Wind Power Gains Will Cut US Gas Needs By 5% In 2006
>>>If you believe this, I have a bridge I'd like to sell you.<<<
By KAREN MATUSIC
January 24, 2006 2:27 p.m.
Of DOW JONES NEWSWIRES
WASHINGTON -- Wind power will continue to provide a breath of fresh air in an otherwise murky energy outlook this year.
According to an American Wind Energy Association (AWEA) report released Tuesday, a record 3,000 megawatts of new capacity will be installed in the U.S. in 2006, enabling the world's biggest energy consumer to lessen its consumption of costly natural gas by 5% and cut down on carbon dioxide emissions.
As the U.S. grows ever more dependent on foreign oil and gas to meet its rising energy demand, the growth in wind power couldn't come at a better time, said AWEA Executive Director Randall Swisher.
"The wind industry is looking forward to several record-breaking years in a row," Swisher said. "Companies can now plan for growth, create jobs, and provide more clean power to customers nationwide. We are finally beginning to tap into wind energy's enormous potential."
The Energy Policy Act of 2005, signed into law by President George W. Bush last August, extends tax credits for wind producers and includes other incentives aimed to boost wind power development along with other renewable fuels as a way to broaden the U.S. energy mix.
In 2005, the U.S. wind energy industry easily broke earlier records for annual capacity additions, installing nearly 2,500 MW or more than $3 billion worth of new generating equipment in 22 states, the Washington-based association said in a statement.
The U.S. wind industry currently has a total generating capacity of more than 9,000 MW, about the total amount of energy used annually in 2.3 million homes.
"Wind power, which generates energy without using fuel, provides a hedge against rising energy costs because wind energy production is immune from fuel price spikes," the association said in its statement.
AWEA estimates that an installed capacity of 9,149 MW of wind power will save over half a billion cubic feet of natural gas per day (Bcf/d) in 2006, alleviating a portion of the supply pressure that is now facing the natural gas industry and is driving prices upward.
California tops the state ranks in terms of most wind power installed with 2,150 MW, while oil-rich Texas is second at 1,995 MW. Iowa, Minnesota and Oklahoma round out the top five, AWEA data shows.
Wind farms completed in 2005 will generate about $5 million in payments to landowners hosting the turbines, the association said. |
