“The additional 470 GW of wind capacity through 2025 could equal the creation of more than 3.3 million direct jobs in a dynamic supply chain around the world, based on existing data sets regarding the job creation for onshore and offshore wind power, ”the report said.
New historic wind capacity of 93 GW was installed in 2020 despite the impacts of COVID-19, making last year a record year for onshore wind growth and the second best year for wind growth offshore, demonstrating the resilience of the wind industry and a signal that the industry and the global supply chain can continue to deliver.
“While installations are expected to decline slightly in 2021 to reach 88 GW of new wind capacity, this will still be the second best year for wind growth in history, largely due to rushes for facilities in the United States for onshore wind and in China for offshore wind, ”the report says.
Wind installations will grow at a CAGR of 4% over the next five years and annual offshore wind installations are expected to quadruple by 2025 with a CAGR of 31.5% over the next five years.
The report says annual installations are expected to exceed 110 GW by 2025, bringing the total volume of new installations from 2021 to 2025 to 470 GW. These additions are equivalent to two-thirds of all current wind installations in the world, meaning the industry is poised for significant expansion over 5 years.
By 2025, GWEC forecasts more than 1,210 GW of installed onshore and offshore wind capacity worldwide. With increased investment and heightened political ambition for onshore and offshore wind energy, employment potential could exceed 3.3 million jobs, providing a rung on the ladder of green recovery.