EER sees strong growth in wind industry
Published: June 22, 2007 at 12:44 PM
CAMBRIDGE, Mass., June 22 (UPI) -- A study by Emerging Energy Research suggests U.S. wind power will reach a capacity of 49,000 megawatts by 2015.
The research predicts with 125 gigawatts of projects in the pipeline and $65 billion in estimated investments the U.S. wind industry could rank first internationally with 19 percent of the global industry, despite transmission bottlenecks.
"With greater certainty in the energy policy fundamentals underpinning U.S. wind growth potential, the U.S. market has become a core demand hub for global wind players across the value chain," said Joshua Magee, EER senior analyst.
The study bases its projections on new transmission buildup around 2011 allowing high growth of about 5 gigawatts per year.
Rapid consolidation within the industry has created a competitive market, further driving growth and leading to turbine manufacturers opening in the United States. Growth has also been spurred by state renewable portfolio standards and the extension of the federal production tax credit.
"As annual U.S. wind development becomes increasingly dominated by companies with the right combination of green field experience, financial muscle and turbine supply,the race is on between major U.S. power players and European IPPs and utilities for U.S. market positioning," Magee said. |
