Development of wind energy market in the European Union

Renewable energy sources (RES) can play a significant role in economic growth. This article examines the development of the wind energy market in the EU. The applicable regulations, directives, and legal acts are reviewed, and the State's role in the development of the renewable energy market is discussed. The analyses were carried out based on the available literature and Eurostat data. The authors of the paper used basic statistics to summarize the changes in wind energy and make a prognosis. The data analysis uses the Autoregressive Integrated Moving Average Method (ARIMA). The survey found that the highest average wind cumulative installed capacities were in Germany (31026 MW), Spain (18602 MW), United Kingdom (7894 MW) and France (6108 MW). Our analysis indicates that the biggest average annual installed wind capacity was in Germany (2952.6 MW), Spain (1224.5 MW) and the United Kingdom (1363.8 MW). These same countries achieved the highest average wind gross electricity production in the years 2004-17: Germany (50.9 TWh), Spain (39.3 TWh) and United Kingdom (18.9 TWh). The study finds that wind cumulative installed capacity will increase in most countries of the EU. (C) 2020 Elsevier Ltd. All rights reserved.