The wind energy industry is continuing to grow, despite supply chain challenges caused by the COVID-19 pandemic and the war in Ukraine. According to the Global Wind Energy Council, global wind power capacity increased by 9.1% in 2022, to reach 939 gigawatts. This growth was driven by strong demand in Europe, where wind power is seen as a key part of the continent’s efforts to reduce its reliance on fossil fuels.
The supply chain challenges facing the wind energy industry have made it more difficult and expensive to build new wind farms. However, the industry is working to overcome these challenges, and it is confident that it will continue to grow in the years to come.
One of the main challenges facing the wind energy industry is the shortage of components, such as steel and magnets. This shortage has led to delays in the construction of new wind farms, and it has also made it more expensive to build them.
Another challenge facing the wind energy industry is the rising cost of transportation. The cost of shipping components to wind farms has increased significantly in recent years, due to the high demand for shipping space and the rising cost of fuel.
Despite these challenges, the wind energy industry is confident that it will continue to grow in the years to come. The industry is working to develop new technologies that will make it more efficient and cost-effective to build and operate wind farms. In addition, the industry is working to secure long-term contracts for the sale of electricity from wind farms, which will provide investors with the certainty they need to make investments in new wind projects.