Wind energy can move a sustainable world
A KPMG study at the request of Siemens Gamesa
The socioeconomic impacts of wind energy in the context of the energy transition
A global energy transition is slowly taking off. However, it should speed up significantly in order to achieve our common sustainability goals, with wind energy assuming a central role in their fulfilment.Get the full study
Its role in power supply would be nine times larger
It could supply up to around 34% of global electric power demand in 2040 (up from 4% today). That is 14,000 TWh, equivalent to total power generation in China, Europe and USA today.
It could reduce around 20% of the carbon emission reductions needed in 2040
5 billion ton CO2 (the emissions of double of the vehicles in use in the world today).
The renewable energy industry is core to many Sustainable Development Goals (SDGs) , especially SDG 7, which focuses on access to affordable, reliable, and sustainable energy and SDG 13, which centers on urgent action to combat climate change.
In a sustainable scenario...
The benefits of CO2 reductions from wind in 2050 are estimated at $386 billion (reduced social cost), similar to Norway’s GDP today.
All renewables together would reduce air pollution enough to save up to 4 million lives per year in 2030.
Wind power could save up to 16 billion m3 of water in 2030 (around 15% of the Dead Sea water). In Europe alone, it would avoid the use of 1,571 million m3 (the equivalent consumption of 13 million UE households).
Capacity of employment
The wind industry could employ three times more people than today, from 1.1. to 3 million people (direct and indirect). Many of these jobs are local and qualified, adding significant economic value to most regions.
Dependable offshore wind
Offshore wind is less intermittent. Hence, it is a clear alternative to provide with predictable renewable power to large coastal demand centers.
Investors are increasingly betting on “green” assets. More than 90% of renewable energy investment (debt and equity) comes from the private sector. The global sustainable debt market has increased 4,900% between 2012 and 2018, reaching USD 247 billion.