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Wind May Generate 18% of World Electricity in 2050: IEA

Oct. 21 (Bloomberg) -- Wind power may multiply more than sixfold to generate as much as 18 percent of the world’s electricity in 2050, the International Energy Agency said, raising an earlier estimate by half.

Spending on new wind farms would need to ramp up to about $150 billion a year from $78 billion last year to achieve the necessary level of installed capacity, the Paris-based IEA said today in a statement on its website. As much as 10 times the current capacity of almost 300 gigawatts is needed, it said.

The IEA estimated in 2009 that wind power may provide 12 percent of global power in 2050. It cited improvements in wind technology and the “changing global energy context” for today’s upward revision. Wind turbines currently provide about 2.6 percent of global electricity, the IEA said.

To contact the reporter on this story: Alex Morales in London at amorales2@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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