Report: Rapid Growth Predicted In Global Wind Market

NAW Staff, Tuesday 27 May 2008 - 10:29:41

The results of the fourth WindEnergy Study, commissioned by HUSUM WindEnergy 2008 with the German Wind Energy Institute, take a positive view of further development of the worldwide wind energy market in the coming years. The world market volume of annual new installations is expected to be multiplied by five within 10 years, from about 20,000 MW in 2007 to about 107,000 MW in 2017.

As the survey of companies active in this international industry showed, there could be a total of some 718,000 MW of installed wind power worldwide by the end of 2017 compared with about 94,000 MW at the end of 2007).

According to the study, the focus of worldwide growth last year was in the U.S., China, Spain, Germany and India, with some 78% of new installations. Study respondents indicated that the U.S., China and Spain have great growth potential into the future, and there are also other countries that are becoming important to them, such as Greece and South Korea.

The extension of production tax credits (PTC) for wind energy adopted by the U.S. Senate by the end of 2009 – the decision by Congress is still pending – will most likely enable the U.S. wind industry to continue breaking records in the next two years. The majority of companies surveyed said they believe the U.S. market will survive even without extension of the PTC, as various states are funding wind energy.

SOURCE: HUSUM WindEnergy 2008




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