Wind industry predicts bounceback and rapid growth in 2023

The wind power industry expects rapidly accelerating growth this year after a challenging 2022. The Global Wind Energy Council in Brussels said in its annual wind report Monday that incentives and policy changes in key changes should help overcome factors that slowed the industry last year. The international trade association also said growth will be fueled by concern about climate change and the security of energy supplies due to Russia's invasion of Ukraine. The council is projecting 680 gigawatts of new onshore and offshore capacity by 2027 — enough to power about 657 million homes annually. It blamed last year's slower growth on inflation, higher logistics costs and bottlenecks in permitting.