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Technology and Program Market Data - Wind Energy Technologies Program
This Web page includes a summary of market data for the Wind Energy Technologies Program. Data includes market penetration; industry trends; cost, price, and performance trends; policy and market drivers; as well as future outlook.
The National Renewable Energy Laboratory led an effort initiated by the Strategic Planning and Analysis group of the Office of Energy Efficiency and Renewable Energy (EERE) to produce a full report, which this page summarizes. The following documents are available as Adobe Acrobat PDFs. Download Adobe Reader.
2008 Wind Technologies Market Report
The 2008 Wind Technologies Market Report (PDF 1.9 MB) examines key trends in the U.S. wind industry, which experienced a banner year in 2008, once again surpassing even optimistic growth projections from years past. At the same time, the past year has been one of upheaval, with the global financial crisis impacting near-term growth prospects for the wind industry, and with significant federal policy changes enacted to push the industry toward continued aggressive expansion. Highlights include:
- The United States is the fastest-growing wind market worldwide. The United States 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 United States. 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. More than 10% of the electricity generation in Iowa and Minnesota now comes from wind power.
- Market growth is spurring manufacturing investments in the United States. 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.
- 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 increasing 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 United States in 2009. After a slower 2009, most predictions show market resurgence in 2010 and continuing for the immediate future.
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