The North American wind energy industry lags in key areas compared to Europe and Asia, but many key industry players are optimistic about the North American market as turbine costs continue to drop dramatically. According to a new report from Pike Research, total installed wind capacity in North America will more than double over the next six years, increasing from approximately 53,000 megawatts in 2011 to almost 126,000 megawatts by 2017.
“This will be another difficult year for wind power in North America, but we do see signs of recovery,” says senior analyst Peter Asmus. “Larger, more efficient turbines are generating greater amounts of wind power at lower costs, and both the U.S. and Canadian governments have shown strong commitment to the wind industry during this challenging economic time.”
Pike Research forecasts that approximately $820 billion will be invested globally in onshore and offshore wind turbines between 2011 and 2017. North America’s share of this total is expected to be $145 billion.
The United States produces more electricity from wind energy than any other country – enough to power 10 million homes – but this still represents only 2.3% of total power generation in the United States. By comparison, Denmark now derives 20% of its electricity from wind power, and several other Western European countries are above 10%. One of the key factors for renewed growth in the wind power industry is the development of offshore resources.
Lacking a coordinated policy framework that would provide government support and investment certainty for transmission, developers and manufacturers in the United States and Canada are looking for ways to bring even larger economies of scale to the wind power market. Large, untapped offshore wind resources offer a primary path forward.
Source : Pike Research
