The Global Wind Energy Council (GWEC) alongside the International Renewable Energy Agency (IRENA) has released a report advising on the conditions that best favors wind power generation.
The report titled '30 Years of Policies for Wind Energy: Lessons from 12 Wind Energy Markets,' ennumerates the conditions required to attract investments for the sector.
The report states that wind power generation as a mainstream power technology is projected to cross installed capacity of 490GW by 2016.
GWEC secretary general Steve Sawyer said that the increasing experience of a greater number of countries producing a growing percentage of their electricity from wind has brought about several successful methods to harness wind power.
"The objective of this report is to highlight what has worked and what hasn't," Sawyer added.
Political support towards wind power development and a stable policy and regulatory framework were labeled as the primary conditions required to attract investments for the sector.
Targeted at IRENA member countries in particular, the report focused on 12 leading wind markets such as Brazil, China, Denmark, Germany, Greece, India, Ireland, Italy, Portugal, Spain, the UK and the US.
The report was compiled following a review of the various policy and regulatory measures that positively contributed to the sector's growth in the past.