Problems in Siemens Energy's wind turbine division that could cost more than €1 billion ($1.09 billion) to fix have shaken investor confidence in the wider industry and last week prompted a sell-off in wind companies' shares.

Over the last two decades, the industry has grown fast, lowered technology costs to on par or even cheaper than fossil fuels in some parts of the world and increased efficiency through bigger and bigger turbines.

According to the Statistical Review of World Energy report on Monday, global wind and solar power grew to a record share of 12% of power generation last year, surpassing nuclear.