Wind-power installations will climb to a record this year, driven by resurgent U.S. demand and growth in developing nations from Brazil to China, the Global Wind Energy Council predicted.
Worldwide installations will probably surge 34 percent to 47.3 gigawatts in 2014, the Brussels-based trade group said today in an e-mailed report. That follows a drop by more than a fifth to 35.3 gigawatts last year that was fueled by crashing U.S. demand after a tax credit to the industry expired.
Developing countries outside the 34-member Organization for Economic Co-operation and Development will spur new wind power demand for the next five years, with markets in Asia, Latin America and Africa providing “easy growth,” GWEC said. Wind is already competitive with traditional generators in countries including Brazil, South Africa and Turkey, it said.