The U.S. Department of Energy (DOE) has released its ‘2008 Wind Technologies Market Report,’ which details $16 billion in investment in wind projects made in the U.S. in 2008 – making the U.S. the leader in annual wind energy capacity growth, as well as cumulative wind energy capacity.
The report found that wind power capacity increased by 8,558 MW in 2008. This $16 billion investment in wind projects made the U.S. the fastest-growing wind power market in the world for the fourth consecutive year.
Wind power contributed 42% of all new U.S. electric generating capacity in 2008, for the fourth consecutive year, wind power was the second-largest new resource added to the U.S. electrical grid in nameplate capacity, the report says.
The report, which has been issued annually since 2007, analyzes a range of developments in the wind market, including trends in wind project installations, turbine size, turbine prices, wind project costs, project performance and wind power prices.
Key findings of the report include the following:
– For the fourth straight year, the U.S. led the world in wind capacity additions, capturing roughly 30% of the worldwide market;
– Soaring demand for wind has spurred expansion of wind turbine manufacturing in the U.S.;
– Texas led all states, with 7,118 MW of total wind capacity installed, followed by Iowa (2,791 MW) and California (2,517 MW); and
– Wind power remained competitive in wholesale power markets in 2008, with average wind power prices at or below the low end of the wholesale power market price range, although upward pressure on wind power prices looks set to continue.
The report is available for download at eere.energy.gov.
The DOE has also selected 28 new wind energy projects for up to $13.8 million in funding, including $12.8 million from American Recovery and Reinvestment Act of 2009 funds. These projects will help address market and deployment challenges, including wind turbine research and testing, and transmission analysis, planning and assessments.
For more information, visit energy.gov.
SOURCE: Department of Energy