NextGen research sees global wind power generating capacity surpassing 318 Gigawatts by 2013
Jun 9, 2009 - Centredaily.com
OYSTER BAY, N.Y. — The emission-neutral energy provided by wind power represents a unique opportunity to help the world end its reliance on expensive, polluting fossil fuels, and to spur the economy by creating millions of “green collar” jobs. Wind power has followed an evolutionary path over thousands of years that has transformed it from an efficient method for grinding grain into the world’s fastest-growing, most cost-competitive, sustainable energy source.
A new market study by NextGen Research, “Global Wind Power Market: The Outlook for Renewable Energy Generation by Wind Turbines, Wind Farms” (http://www.nextgenresearch.com/research/1004156-Global_Wind_Power_Market), forecasts that global wind-based electrical generation capacity, which totaled just under 121 gigawatts (GW) in 2008 (a record year for new installations), will reach 318.5 GW by 2013. Spurring this growth will be a boom in China’s renewable energy industry; government support in the form of subsidies, feed-in tariffs and Renewable Portfolio Standards, and international goals for renewable energy usage established under accords like the Kyoto Protocol and the EU’s Renewables Directive.
The study’s author, Keith Reinhardt, says that despite the troubled economic climate, the global business environment has never been so favorable for the widespread proliferation of wind power equipment. “The wind power industry worldwide has surged over the past decade, as demand has been driven by aggressive government mandates and subsidies designed to promote energy independence and reduce toxic emissions. Moreover, the growing prevalence of policy implemented to ensure a long-term market for wind power and to promote investor certainty continues to facilitate growth in emerging markets with massive potential.”
Mr. Reinhardt says that the global recession dealt a glancing blow to the wind power industry in 2009 by forcing many developers to cancel or delay projects. However, he says, the industry will rebound sharply during 2010 as credit markets thaw and the flow of capital resumes. “The world has embarked on a green revolution, with a growing number of aggressive government policies mandating increased reliance on renewable energy. In addition, the cost of generating electricity from wind is approaching parity with traditional energy sources, and could become cheaper than fossil fuel-based electrical generation regardless of government subsidies as fuel prices rise and a standardized global value is placed on carbon emissions.
NextGen Research is the emerging technology arm of ABI Research (www.ABIResearch.com). NextGen Research informs clients of the outlook for applications currently in use and the opportunities presented by new technologies, so they can make sound business decisions. For more information, please visit www.NextGenResearch.com, or call +1.516.624.2526.