Last year marked the highest global annual installation total on record, the analyst outfit stated. China's National Energy Administration reported 72 GW of installed capacity in 2020, which alone would have qualified as the most capacity added globally in a single year, said Wood Mackenzie.

This total includes partially completed projects, as developers claimed full capacity to capitalize on the onshore wind subsidy before it expired at the end of last year. The rest of the world, excluding China, added nearly 43 GW in 2020, a 15% increase annually. On year, significant contributions came from the US (+6,565 MW), Brazil (+1,055 MW), the Netherlands (+1,878 MW), and Australia (+1,363 MW).