Europe’s Wind Industry Thrives, Contributing €57 Billion to GDP in 2023

Europe's sector has proven pivotal in securing both the region's energy independence and industrial growth strategy, according to a new report released by ETIPWind.

The report, detailing the wind industry's performance in 2023, highlighted significant contributions to Europe's economy, with wind energy installations meeting 20% of the continent's demand. Denmark led the charge, fulfilling 56% of its electricity needs through wind, followed closely by Ireland, Germany, the , Netherlands, and Spain.

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Key findings from the study indicate that Europe boasted 272GW of wind capacity by the end of 2023, predominantly , reflecting its vital role in the region's energy mix.

“In 2023, the wind sector made a substantial economic impact, contributing €57.2bn to Europe's GDP,” stated the report, with €34.5bn directly attributable to developers, manufacturers, and component suppliers.

Moreover, the industry's export prowess was evident, with €11bn in goods and services shipped abroad during the year, underscoring its global competitiveness.

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The study also underscored the sector's employment potential, sustaining 370,000 jobs across Europe in 2023, up from 247,000 a decade earlier. Local communities hosting wind farms also benefited, receiving approximately €10bn in tax revenues and other economic boosts.

Highlighting its environmental contribution, the report noted that wind energy generation in 2023 prevented 139 million tonnes of CO2 emissions, equivalent to €11.6bn in avoided costs based on EU emission allowance prices.

Looking ahead, the wind industry remains committed to growth and innovation, increasing its research and innovation (R&I) investments for the second consecutive year. In 2023, R&I spending reached 3.79% of the industry's GDP contribution, surpassing EU targets for R&I investment.

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ETIPWind emphasized the need for sustained R&I investments, projecting a requirement of €1.8bn in public funding between 2025 and 2027 to accelerate wind R&I initiatives.

To meet ambitious targets for 2030, the report called for an annual installation of 30GW of capacity, necessitating proactive measures and strategic investments.

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