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April 16, 2019

Wind powers ahead of hydro for second quarter in a row

Wind power generation has reached record levels across Europe and has now produced more electricity than hydropower for two quarters in a row.

By Jack Unwin

Wind power generation has reached record levels across Europe and has now produced more electricity than hydropower for two quarters in a row, according to a report by energy analyst EnAppSys.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
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The report shows that renewable energy output from all sources fell by over 8% in the first quarter (Q1) of 2019. This was mostly due to a significant decline in hydro generation, which fell by 25% to 104.7 terawatt hours (TWh) compared with Q1 in 2018. Wind power, however, reached record levels with 105.4 TWh, a 57% rise since 2015. Solar power produced 27.9 TWh in Q1, an increase of 14% from Q1 in 2018.

Among fossil fuels, gas-fired power generation has overtaken all other fossil fuels for the first time. It produced 117 TWh in Q1, compared to coal, lignite and gas-to-coal at 110.9 TWh. In all, gas-fired generation has risen by 91% since 2015, with coal declining by almost 33%.

Nuclear power generation fell by 4% to 204.4 TWh, its lowest quarterly output since 2015. However, the report did note that nuclear is still the largest single power source across the continent in the quarter.

In total, 38% of energy generation came from wind, solar and hydro and other minor renewables, 33% from fossil fuels and 29% from nuclear power.

EnAppSys director Jean-Paul Harreman said: “The report has produced several notable trends in the European power generation market. The transition from coal to gas has been driven by higher-than-usual carbon taxes in Britain, costs associated with the EU Emissions Trading Scheme and the acceleration of coal plant closures in several countries.

“This trend is likely to continue, with Germany looking to phase out coal quicker than originally anticipated and countries such as Estonia continuing to generate a large share of their electricity from high-polluting oil (or shale oil) sources.

“Much of the nuclear output was generated by power plants in France, although a lot of these plants, and other nuclear plants across Europe, are being phased out so in time these volumes will have to be replaced by alternative sources.”

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Free Report
img

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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