Truth To Power
On this week's episode of #TruthtoPower, IntelStor's Founder & CEO, Philip Totaro presents the generation and efficiency of the global onshore #windenergy market from the IntelStor Future of Renewables #marketresearch Report. Onshore wind energy has grown from a little over 30 terawatt hours globally in 2000 to more than 2.3 petawatt hours by 2025. The wind energy sector did grow away from Europe and towards the Asia Pacific region in overall percentage of the contribution to generation. By the end of 2025 Asia Pacific has 53% of the contribution to global generation, with the Americas at 24%, Europe at 23% and Africa & Middle East region still around 1%. Capacity factor analysis for onshore wind energy indicates that the Americas region shows the highest average at over 32%. The Asia Pacific region has the worst performance due to the challenges faced by Chinese wind turbine OEMs with the maintenance of their equipment. Over time, the efficiency across all global regions has increased due to improving efficiency of new wind turbine models introduced in the past 25 years. Nevertheless, the average capacity factor of onshore wind energy when compared to other forms of renewable energy is still relatively poor. For each 5% increment that average capacity factor can be increased via efficiency improvements in the wind turbine technology, it would result in a 2% reduction in the average cost of energy. This reduction could prove quite important as onshore wind energy continues to see a challenge from conventional power generation technologies such as coal, oil and natural gas. This show examines data driven insights for the energy sector, with a focus on renewables. To subscribe to IntelStor Research Notes and get early access to our latest content as well as these Truth to Power weekly editorials, visit https://lnkd.in/e98Z9qs3
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