Forum for Science, Industry and Business

Sponsored by:     3M 
Search our Site:

 

New study sheds light on the growing US wind power market

21.07.2009
For the fourth consecutive year, the U.S. was home to the fastest-growing wind power market in the world in 2008, according to a report released by the U.S. Department of Energy and prepared by Lawrence Berkeley National Laboratory (Berkeley Lab).

Specifically, U.S. wind power capacity additions increased by 60 percent in 2008, representing a $16 billion investment in new wind projects. “At this pace, wind is on a path to becoming a significant contributor to the U.S. power mix,” notes report author Ryan Wiser, of Berkeley Lab. Wind projects accounted for 42% of all new electric generating capacity added in the U.S. in 2008, and wind now delivers nearly 2% 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 U.S. 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 United States. 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.”

Drawing from a variety of sources, this report analyzes trends in wind power capacity growth, turbine size, turbine prices, installed project costs, project performance, wind power prices, and how wind prices compare to the price of conventional generation. It also describes developer consolidation trends, current ownership and financing structures, and trends among major wind power purchasers. Finally, the report examines other factors impacting the domestic wind power market, including grid integration, transmission issues, and policy drivers. The report concludes with a preview of possible near- to medium-term market developments.

Some of the key findings from the just-released 2008 edition include:

The U.S. is the fastest-growing wind market worldwide. The U.S. 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 U.S. 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% of the electricity generation in Iowa and Minnesota now comes from wind power.

Market growth is spurring manufacturing investments in the U.S. Several major foreign wind turbine manufacturers either opened or announced new U.S. wind turbine manufacturing plants in 2008. Likewise, new and existing U.S.-based manufacturers either initiated or scaled-up production. The number of utility-scale wind turbine manufacturers assembling turbines in the U.S. increased from just one in 2004 (GE) to five in 2008 (GE, Gamesa, Clipper, Acciona, CTC/DeWind).

Wind turbine prices and installed project costs continued to increase into 2008. Near the end of 2008 and into 2009, however, turbine prices have weakened in response to reduced demand for wind due to the financial crisis.

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.

Expectations are for a slower year in 2009, in large part due to the global recession. Projections among industry prognosticators range from 4,400 MW to 6,800 MW of wind likely to be installed in the U.S. in 2009. After a slower 2009, most predictions show market resurgence in 2010 and continuing for the immediate future.

Berkeley Lab’s contributions to this report were funded by the Wind & Hydropower Technologies Program, Office of Energy Efficiency and Renewable Energy of the U.S. Department of Energy.

Berkeley Lab is a U.S. Department of Energy national laboratory located in Berkeley, California. It conducts unclassified scientific research for DOE’s Office of Science and is managed by the University of California.

Additional Information:

- The report, “2008 Wind Technologies Market Report”, can be downloaded from: http://eetd.lbl.gov/ea/ems/re-pubs.html

- A PowerPoint presentation summarizing key findings from the report can be found at: http://eetd.lbl.gov/ea/ems/emp-ppt.html

- The Department of Energy’s press release is available at:http://www.energy.gov/news2009/7653.htm

Posted on Thursday, July 16th, 2009 at 10:27 am and viewed 1,219 times.

Allan Chen | EurekAlert!
Further information:
http://www.lbl.gov

More articles from Business and Finance:

nachricht Mathematical confirmation: Rewiring financial networks reduces systemic risk
22.06.2017 | International Institute for Applied Systems Analysis (IIASA)

nachricht Frugal Innovations: when less is more
19.04.2017 | Fraunhofer-Institut für Arbeitswirtschaft und Organisation IAO

All articles from Business and Finance >>>

The most recent press releases about innovation >>>

Die letzten 5 Focus-News des innovations-reports im Überblick:

Im Focus: Neutron star merger directly observed for the first time

University of Maryland researchers contribute to historic detection of gravitational waves and light created by event

On August 17, 2017, at 12:41:04 UTC, scientists made the first direct observation of a merger between two neutron stars--the dense, collapsed cores that remain...

Im Focus: Breaking: the first light from two neutron stars merging

Seven new papers describe the first-ever detection of light from a gravitational wave source. The event, caused by two neutron stars colliding and merging together, was dubbed GW170817 because it sent ripples through space-time that reached Earth on 2017 August 17. Around the world, hundreds of excited astronomers mobilized quickly and were able to observe the event using numerous telescopes, providing a wealth of new data.

Previous detections of gravitational waves have all involved the merger of two black holes, a feat that won the 2017 Nobel Prize in Physics earlier this month....

Im Focus: Smart sensors for efficient processes

Material defects in end products can quickly result in failures in many areas of industry, and have a massive impact on the safe use of their products. This is why, in the field of quality assurance, intelligent, nondestructive sensor systems play a key role. They allow testing components and parts in a rapid and cost-efficient manner without destroying the actual product or changing its surface. Experts from the Fraunhofer IZFP in Saarbrücken will be presenting two exhibits at the Blechexpo in Stuttgart from 7–10 November 2017 that allow fast, reliable, and automated characterization of materials and detection of defects (Hall 5, Booth 5306).

When quality testing uses time-consuming destructive test methods, it can result in enormous costs due to damaging or destroying the products. And given that...

Im Focus: Cold molecules on collision course

Using a new cooling technique MPQ scientists succeed at observing collisions in a dense beam of cold and slow dipolar molecules.

How do chemical reactions proceed at extremely low temperatures? The answer requires the investigation of molecular samples that are cold, dense, and slow at...

Im Focus: Shrinking the proton again!

Scientists from the Max Planck Institute of Quantum Optics, using high precision laser spectroscopy of atomic hydrogen, confirm the surprisingly small value of the proton radius determined from muonic hydrogen.

It was one of the breakthroughs of the year 2010: Laser spectroscopy of muonic hydrogen resulted in a value for the proton charge radius that was significantly...

All Focus news of the innovation-report >>>

Anzeige

Anzeige

Event News

ASEAN Member States discuss the future role of renewable energy

17.10.2017 | Event News

World Health Summit 2017: International experts set the course for the future of Global Health

10.10.2017 | Event News

Climate Engineering Conference 2017 Opens in Berlin

10.10.2017 | Event News

 
Latest News

Terahertz spectroscopy goes nano

20.10.2017 | Information Technology

Strange but true: Turning a material upside down can sometimes make it softer

20.10.2017 | Materials Sciences

NRL clarifies valley polarization for electronic and optoelectronic technologies

20.10.2017 | Interdisciplinary Research

VideoLinks
B2B-VideoLinks
More VideoLinks >>>