New Report Finds the United States Leading in Wind Power Growth
For the third year in a row, the United States was the fastest growing wind power market in the world.
June 11, 2008
For the third year in a row, the United States was the fastest growing wind power market in the world in 2007, according to a new DOE report. The 2007 edition of DOE's "Annual Report on U.S. Wind Power Installation, Cost, and Performance Trends," released last week, found that $9 billion was invested in 5,329 megawatts of new U.S. wind power capacity in 2007, causing the total U.S. wind power capacity to increase by 46%. The growing U.S. wind market spurred new investment in turbine and component manufacturing plants, with enough new and planned facilities to create more than 4,700 new U.S. jobs. The report notes that wind power accounted for 35% of all new U.S. electric generating capacity in 2007 and can now supply about 1.2% of the country's electricity needs. In addition, new transmission facilities under development throughout the country will allow the future development of another 200,000 megawatts of wind power.
Prepared by DOE's Lawrence Berkeley National Laboratory, the annual report analyzes developments in the wind market, including trends in wind installations, turbine size, turbine prices, installed project costs, project performance, wind power prices, and cost comparisons between wind power and conventional generation. It also describes developer consolidation trends, current ownership and financing structures, and trends among major wind power purchasers. The 2007 edition expands upon the 2006 study by also highlighting the growing importance of wind power to the nation’s power mix and economy, the significant increases in the contribution of wind power to new capacity additions in the electric sector; the amount of wind power in utility systems; the size of wind projects; and the quantity of wind power capacity in various interconnection queues across the country. See the DOE press release and DOE's Wind and Hydropower Program Web site, or go directly to the full report (PDF 3.9 MB). Download Adobe Reader.