North America wind power market: Latest market research analysed
The rise of wind energy is no longer being looked upon as an alternate source of energy.
By the end of the year 2008, 120 gigawatts of wind power capacity were installed worldwide, after 94 gigawatts by the end of 2007. Already today wind provides more than 1.5% of the global electricity consumption and the wind industry employs half a million people. Currently, 80 countries are using wind energy on a commercial basis, with the main shares in Germany, USA, Spain, China and India which still account for three quarters of the global wind installations. North America and Asia showed the most dynamic growth rates in the year 2008.
In the foreseeable future wind energy is expected to cover a large share of the electricity needs worldwide: Wind energy is practically inexhaustible as well as available almost everywhere and wind energy investment is a low-risk investment. The cost of electricity generation is stable over the lifetime of a wind turbine and there are no fluctuating fuel costs - and the access to wind cannot be restricted by third parties. Wind power net capacity additions over the last ten years (1998-2007) have showed a mean growth rate of 30.4 percent per year, corresponding to a doubling of net additions every 2½ years.
Wind energy is today the best panacea for the three current crises - energy, finance and climate.
In most countries, the growing interest in wind stems from concerns over rising prices, reliability and security of electricity supply and also the environmental impact of their electricity systems. As it is emission-free, renewable, domestic, and relatively affordable, it has the maximum environmental benefits. In addition wind energy provides a sustainable answer to increasing concerns about security of energy supply and volatile fossil fuel prices. Moreover, wind energy is becoming a substantial factor in economic development, providing more than 350,000 'green collar' jobs today both in direct and indirect employment. By 2020, this figure is projected to increase to over two million. All this explains why it is the fastest growing energy source in the world.
However wind also presents some challenges - particularly because it is, by its very nature, a variable source.
Our report, Analyzing the North American Wind Power Industry, is a complete analysis of the wind energy industry in North America (particularly concentrating on the United States of America, Canada and Mexico). The report analyzes the present global and regional market scenario, the prevalent wind resources in this continent, governmental policies, future projections, detailed analysis of the leading states/province and much more.
The report is a highly comprehensive research compilation of the booming wind power industry in North America. The report also provides a look at the overall North American energy industry and a brief profile of the global wind power industry as well.
The report, Analyzing the North American Wind Power Industry, explores the importance of wind power in today's world. The report looks at the basics of the wind energy industry, economics, issues and barriers, and other such factors.