Global wind industry investment of $28.2 billion USD and $8.7 billion USD in public funding will drive investment in new wind energy technologies by 2028, according to estimates by Intelstor.
The majority of investment will be made in Western Europe, Japan, and China, followed closely by the US, a relative newcomer to the wind industry. India’s low costs also make it a candidate for growing technology innovation. Other regions with modest or low R&D spend will benefit from the proliferation of new technologies and are likely to reinvest in R&D as wind penetration grows in those areas.
The $28.2 bn private investment is equivalent to around 5.3% of projected revenue, approximately double the 2.7% figure of 2013.
The emerging technology trends are system integration (combining intermittent energy generation from wind and solar with storage) and digitalisation to unlock efficiencies in asset performance and management. The challenge is to find an economic path to progress R&D projects from concept to commercial viability and adoption.
From Renewables Now.