Wind power is expected to supply 20% of global electricity demand by 2030.
That’s according to a report by the Global Wind Energy Council (GWEC) which stated wind generation will reach 2,110GW during the same period.
It means the sector could attract an investment worth around €200 billion (£178bn) and create 2.4 million new jobs in the next 14 years.
It could also reduce carbon emissions by more than 3.3 billion tonnes per year, it added.
The Global Wind Energy Outlook report stated the increase is due to reduced costs for wind power.
It set different scenarios exploring the future of the technology to 2020, 2030 and 2050 explaining how falling costs, improving technologies and supportive policy environments could see wind power grow.
The GWEC said total global wind power installations stood at 433GW by the end of last year, up by 17% compared to 2014. That was because around €110 billion (£97.9bn) was invested in new developments of this kind.
The organisation expects new wind capacity installed to rise by around 60GW this year to around 500GW which has also been predicted by the World Wind Energy Association.
The report also revealed the offshore wind market is growing fast with 3.4GW of capacity added last year across five markets, taking total installed capacity to above 12GW.
Steve Sawyer, GWEC Secretary General said: “Now that the Paris Agreement is coming into force, countries need to get serious about what they committed to last December. Meeting the Paris targets means a completely decarbonised electricity supply well before 2050 and wind power will play the major role in getting us there.
“Wind power is the most competitive option for adding new capacity to the grid in a growing number of markets but if the Paris agreement targets are to be reached, that means closing fossil fuel fired power plants and replacing them with wind, solar, hydro, geothermal and biomass. That will be the hard part and governments will have to get serious about it if they are to live up to the commitments to which they have now bound themselves.”
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