New Record for Wind Power in Sight: A Breeze Changes the Energy Landscape

Electricity generation from wind power could reach a new peak in 2024. As winter spreads across the northern hemisphere, wind speeds are increasing worldwide and could propel wind energy to a record-breaking share of the electricity market. The energy think tank Ember reports that global electricity generation from wind power rose by about 7% in the first nine months of 2024 compared to the previous year. Since the highest wind power yields tend to occur during winter in the northern hemisphere, this increase could set a new record in the final months of 2024. Wind speeds in particular in China, the USA, and Germany will be crucial, as these countries collectively host 64% of global wind power capacity. China, with a 43% share of global capacity, already recorded a generation of 712 terawatt-hours in the first nine months, representing an increase of 11% year-on-year. In the USA, the second-largest wind market, electricity generation from wind energy increased by 6.2% compared to the previous year. Germany's wind capacity, the largest in Europe, also recorded a growth of 7% in the first nine months of the year. Although global capacity growth has slowed to about half of its previous pace since 2022, there is hope for a recovery. In Germany, installations could soon increase due to infrastructure repairs, while in the USA, the installation rate is gaining momentum ahead of the elections in November. China remains a key driver of growth in Asia, with 39,000 megawatts of new capacity added this year. Despite challenges, signs point to expansion, indicating that winds in this part of the energy market may be shifting.