By 2050, wind power will meet one-third of global electricity demand

According to a new study by KPMG, wind energy will grow 9 times its current level by 2050, meeting one-third
of the world's electricity needs.

The report, commissioned by Siemens Gamesa, says wind energy will offset 5.
6 billion tonnes of carbon dioxide by 2050, equivalent to the annual emissions
of 80 of the world's most polluted cities.

The socio-economic impact of wind energy in the energy transition highlights the broad benefits that wind energy brings to the overall health of the world's population, including potentially saving four million lives a year by reducing air pollution, which would reduce global healthcare costs by up to $3.
2 trillion
per year.

The report also draws on the International Energy Agency, International Renewable? Projections from the Energy Agency and the Intergovernmental Panel on Climate Change further state that 40% of the world's population is affected by water scarcity and that wind energy by 2030 will help save up to 1.
57 billion cubic meters of water per year, which is currently used for fossil fuel power generation
.

"The energy transition is critical
to achieving the UN's 2030 Agenda for Sustainable Development.
Universal access to affordable electricity will enable millions of people and their communities around the world to enjoy a better life
.
But to avoid the worst impacts of climate change, energy will have to be carbon-free," said
Markus Tacke, CEO of Siemens Gamesa.

"In this context, renewable energy will play an important role in putting the world on a sustainable path, as it will reduce emissions, improve air quality, conserve water, create well-paying jobs and save lives
.
" Wind energy is ideally positioned to lead this shift as it is at the forefront of technological innovations that reduce costs and increase market penetration
.
In recent years, wind energy has gained a cost advantage
in competing with fossil fuels.
This is due to the adoption of new manufacturing methods as well as larger, better and more efficient turbines," T?? Acke said
.

Michael Hayes, global head of renewable energy at KPMG, noted that renewable energy such as wind has been "embraced" by the investment community as a "highly attractive asset class" and that current government policies mean that "investment-ready renewable energy projects are not enough to meet the demand
that has become favored by global investors.
" ”

"To address this investment mismatch, it is critical that governments continue to implement preferential policies, especially in emerging economies," Hayes said.

This includes not only the regulatory framework, but also the availability of power grids, land ownership and mortgageable PPAs".