in News Departments > New & Noteworthy
print the content item

The global wind power industry is poised to add more than 241 GW of capacity between 2012 and 2017, at an average growth rate of 5.1% annually, according to a report from Navigant Research. However, Navigant says the industry will likely fluctuate and face challenges along the way.

The report notes that with the addition of 44.9 GW in new installations in 2012, world wind power capacity grew to approximately 285.7 GW, an increase of 18.6% in the total wind power installation base. Average annual growth over the past five years has been 17.8%, achieved during the aftermath of the 2008 financial crisis, even with traditionally large markets for wind power in economic recession in both North America and Europe.

“The wind power industry continues to demonstrate its ability to rapidly evolve in order to meet new demands in markets that face a variety of challenges,” says Feng Zhao, managing consultant with Navigant Research.

“Wind turbine vendors are designing specialized machines for maximum energy production in low-wind-speed areas and for operation in high altitudes, in cold climates and offshore,” Zhao continues. “Nevertheless, a slowdown in wind turbine sales is anticipated, with a decrease of more than 10 percent in 2013 compared to 2012.”

The report says that decrease will be reflected in the U.S. market this year, as a result of 2012’s last-minute one-year extension of the federal production tax credit (PTC). The U.S. market will likely face additional political uncertainty when the PTC expires again later this year, the report notes.

Navigant expects established European wind power markets, such as Spain and Italy, to decline in coming years, while China, the world’s largest wind market, will remain in a state of transition from a period of breakneck growth to one of more stable development.




Mortenson Construction_id2024

Trachte Inc._id1770
Latest Top Stories

Canadian Wind Industry Urges For More Federal Support

The Canadian Wind Energy Association says the country's federal government, once a big industry supporter, should again back wind power.


Wind And Solar Helped California Grid During Challenging Summer

According to the California Independent System Operator, the state suffered from heat waves and drought this year, and wind power played a "significant role" in keeping the lights on.


Recapping The Wind Industry's Third-Quarter Deals

Mercom Capital Group recaps investment and merger and acquisition activity during July, August and September.


Yearly Installed Capacity Figures Already Beat 2013 Numbers, More Wind On The Way: AWEA

While the American Wind Energy Association (AWEA) lobbies Congress to extend the production tax credit, the association notes wind projects now under construction signal a vibrant 2015.


Yahoo Inks Contract To Buy Kansas Wind Power

The Internet company plans to log in to the Alexander wind project, which is being built by community developer OwnEnergy.

Renewable NRG_id1934
Hybrid Energy Innovations 2015
Canwea_id1984
BG 2015DblBox_id2032