Another Record Setting Year for Wind Energy Continues into 2008

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Researched by Industrial Info Resources (Sugar Land, Texas)--Thanks to a second congressional extension of the wind energy production tax credit (PTC) through December 31, 2008, developers and manufactures moved forward with a record number of wind power installations in the U.S. in 2007. The trend continues at a record pace in 2008. Already as of May 1, 2008, the industry has seen more than 1,700 MW or approximately $3 billion in new wind capacity reach commercial start-up. Currently, 7,900 MW is under construction in 26 states, racing to meet the existing PTC deadline. This new capacity could represent an 84% increase over the previous 2007 record of 5,200 MW.

Click on the image at right to view a chart showing the breakdown of U.S. wind capacity over the last ten years.

Beyond 2008, more than 447 wind farms representing more than 70,000 MW or $133 billion are under development in the U.S., with construction starts planned between 2009 and 2013.

Shane Mullins, Vice President for Product Research for Industrial Info says, "Without a PTC extension the industry could see more than 80% of the planned capacity cancelled or delayed until economic conditions improve for many of the projects on the books." When the PTC was allowed to expire on three separate occasions, between 1999 and 2004, development pretty much stopped until it was renewed. However since 2004 twenty nine states have passed Renewable Portfolio Standards that call for the development of more than 60 gigawatts of new capacity by 2020. Mr. Mullins continues, "To date, the PTC has been one of the most important mechanisms for getting wind installed and has allowed many of the existing state renewable portfolio standards to expand and now with the majority of the U.S. population represented in those states it is expected that at least a short term extension should get passed this year."

Click on the image at right to view a chart showing the top 10 states for wind power development.

Industrial Info has recently released the second edition of the United States Wind Turbine Power Generating Industry Wall Map, featuring a detailed view of the 266 wind farms in operation today representing 17,309 MW of capacity, along with 447 wind farms in the planning and engineering stages representing about $133 billion, and 78 wind farms under construction. This high resolution wall map provides details including 166 station owners, 21 turbine manufactures, 229 different turbine model types, unit & turbine count, wind farm name, design capacity, and start-up date.

Also visit us at the upcoming Windpower 2008 conference June 1-4, 2008, Booth 3731 at the George R Brown Convention Center in Houston, Texas.

Industrial Info Resources (IIR) is a marketing information service specializing in industrial process, energy and financial related markets with products and services ranging from industry news, analytics, forecasting, plant and project databases, as well as multimedia services.