Steve Sawyer, secretary general at the Global Wind Energy Council (GWEC) suggests that 2017 will have been a year of modest growth for the renewable energy sector, although he has entered 2018 with great expectations for renewables.
“Plummeting prices both on and offshore wind means that the appetite for new wind power continues to grow across the globe – although not as evenly or as quickly as we would like.
“In particular the offshore sector is expected to be exciting, with the European market now really hitting its stride, the Chinese market finally reaching escape velocity, and new markets in the USA, Taiwan and potentially a whole list of others (including India) making progress in 2018,” said Sawyer.
US renewables dodge bullet
He said the industry in the USA “dodged a bullet” with the preservation of the production tax credit (PTC) at the end of 2017. He also pointed out that Canada, Brazil, Colombia and Argentina have demonstrated exciting potential. “The impasse in South Africa looks like it might finally end, and we’re going to see the beginnings of new markets in Russia and Saudi Arabia this year, along with build-out in Morocco, Egypt, Kenya and probably elsewhere on the African continent,” he added.
In Europe, Sawyer expects 2018 to be “a year of reckoning in the climate negotiations”, as EU the determines its post-2020 climate targets.
Finally, Sawyer said the renewable energy in Asia, aside from China and India, remains a “tough nut to crack”, although GWEC will be “working on Vietnam and perhaps the Philippines, as well as looking for opportunities elsewhere in the region. The Indian market took a hit this year with a policy gap while the auction system was put in place, but we expect a return to growth in 2018.”
This article on renewables was first reported in the CapProCon e-newsletter. Learn more here!