For the fourth consecutive year, the US was home to the fastest-growing wind power market in the world in 2008, says a report by the US Department of Energy and prepared by Lawrence Berkeley National Laboratory (Berkeley Lab). Specifically, US wind power capacity additions increased by 60 per cent in 2008, representing a USD16 billion investment in new wind projects.
“At this pace, wind is on a path to becoming a significant contributor to the US power mix,” notes report author Ryan Wiser, Berkeley Lab. Wind projects accounted for 42 per cent of all new electric generating capacity added in the US in 2008, and wind now delivers nearly 2 per cent of the nation’s electricity supply.
The 2008 edition of the “Wind Technologies Market Report” provides a comprehensive overview of developments in the rapidly evolving US wind power market. The need for such a report has become apparent in the past few years, as the wind power industry has entered an era of unprecedented growth, both globally and in the US. At the same time, the last year has been one of upheaval, with the global financial crisis impacting near-term growth prospects for the wind industry, and with federal policy changes enacted to push the industry towards continued aggressive expansion.
“With the market evolving at such a rapid pace, keeping up with trends in the marketplace has become increasingly difficult,” notes report co-author Mark Bolinger. “Yet, the need for timely, objective information on the industry and its progress has never been greater…this report seeks to fill that need.”
The US is the fastest-growing wind market worldwide. The US has led the world in new wind capacity for four straight years, and overtook Germany to take the lead in cumulative wind capacity installations.
Growth is distributed across much of the US Texas leads the nation with 7,118 MW of new wind capacity, but 13 states had more than 500 MW of wind capacity as of the end of 2008, with seven topping 1,000 MW, and three topping 2,000 MW. Over 10 per cent of the electricity generation in Iowa and Minnesota now comes from wind power.
Market growth is spurring manufacturing investments in the US. Several major foreign wind turbine manufacturers either opened or announced new US wind turbine manufacturing plants in 2008. Likewise, new and existing US-based manufacturers either initiated or scaled-up production.
Wind project performance has improved over time, but has leveled off in recent years. The longer-term improvement in project performance has been driven in part by taller towers and larger rotors, enhanced project siting, and technological advancements.
Wind remained economically competitive in 2008. Despite rising project costs, in recent years wind has consistently been priced at or below the price of conventional electricity, as reflected in wholesale power prices. With wholesale prices plummeting in recent months, however, the economic position of wind in the near-term has become more challenging.
“At this pace, wind is on a path to becoming a significant contributor to the US power mix,” notes report author Ryan Wiser, Berkeley Lab. Wind projects accounted for 42 per cent of all new electric generating capacity added in the US in 2008, and wind now delivers nearly 2 per cent of the nation’s electricity supply.
The 2008 edition of the “Wind Technologies Market Report” provides a comprehensive overview of developments in the rapidly evolving US wind power market. The need for such a report has become apparent in the past few years, as the wind power industry has entered an era of unprecedented growth, both globally and in the US. At the same time, the last year has been one of upheaval, with the global financial crisis impacting near-term growth prospects for the wind industry, and with federal policy changes enacted to push the industry towards continued aggressive expansion.
“With the market evolving at such a rapid pace, keeping up with trends in the marketplace has become increasingly difficult,” notes report co-author Mark Bolinger. “Yet, the need for timely, objective information on the industry and its progress has never been greater…this report seeks to fill that need.”
The US is the fastest-growing wind market worldwide. The US has led the world in new wind capacity for four straight years, and overtook Germany to take the lead in cumulative wind capacity installations.
Growth is distributed across much of the US Texas leads the nation with 7,118 MW of new wind capacity, but 13 states had more than 500 MW of wind capacity as of the end of 2008, with seven topping 1,000 MW, and three topping 2,000 MW. Over 10 per cent of the electricity generation in Iowa and Minnesota now comes from wind power.
Market growth is spurring manufacturing investments in the US. Several major foreign wind turbine manufacturers either opened or announced new US wind turbine manufacturing plants in 2008. Likewise, new and existing US-based manufacturers either initiated or scaled-up production.
Wind project performance has improved over time, but has leveled off in recent years. The longer-term improvement in project performance has been driven in part by taller towers and larger rotors, enhanced project siting, and technological advancements.
Wind remained economically competitive in 2008. Despite rising project costs, in recent years wind has consistently been priced at or below the price of conventional electricity, as reflected in wholesale power prices. With wholesale prices plummeting in recent months, however, the economic position of wind in the near-term has become more challenging.
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