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Global Wind Energy Market Analysis and Forecasts to 2020
Global Wind Energy Market Analysis and Forecasts to 2020
Feed-in Tariffs and Renewable Portfolio Standards (RPS) are the main drivers for wind power development in North America and Europe
Hyderabad,
AP,
India
(prbd.net)
02/12/2009
"The introduction of federal RPS is expected to further boost wind power development in North America."
State-level Renewable Portfolio Standard (RPS) in the US is leading the growth of wind power market in North America. In Feb 2009, senators introduced a legislation to establish a federal RPS that would require electric utilities to produce 25% of their electricity from renewable energy sources by 2025. The introduction of federal RPS is expected to further boost wind power development in North America. In Europe also RPS implemented in various countries are driving the growth in the wind power market.
In Europe, feed in tariffs have emerged as being the most effective in promoting wind power uptake with Germany and Spain being the leading examples of the policy’s effectiveness. The importance of feed in tariffs is visible from the fact that wind power installations in Denmark started to decline when feed in tariffs were taken off. Most of the countries in Europe now have a feed in tariff system.
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Though Europe is the leading region in terms of the current global cumulative wind energy installed capacity, its share in the world’s wind energy industry has dropped from over 73% in 2001 to 61% in 2007 and 54% in 2008. This is mainly because of the relatively mature status of wind energy markets is many European countries. Also, the faster rate of wind energy growth in the US, China, India and Canada is increasing the share of the North American and Asia-Pacific regions in the global wind energy industry.
The Offshore segment forms 1.22% of the global wind power market. Offshore wind is being increasingly explored across the world for its high yield due to stronger and more consistent winds compared to land and the scope to construct massive GW-scale projects. Currently, offshore wind energy installations form a small part of the overall wind power market worldwide. However, huge potential exists for the offshore wind to become one of the major sources of energy in the future.
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GlobalData’s report titled “Global Wind Energy Market Analysis and Forecasts to 2020” provides a detailed analysis of current global wind energy installations as well as the forecasts of worldwide wind energy installed capacity until 2020. The report details historical and current statistics relating to wind energy installed capacities and their growth scenarios until the year 2020. It also provides an analysis of the historical and forecast growth of installed capacity, and the market structure and regulatory policies that govern the world’s key wind power countries. The report further includes information relating to the important cost, technological, market, and research and development (R&D) trends on a global basis. It also analyzes the wind power deals that have taken place over the years and gives detailed profiles of the top players for each of the sub-sectors in the global wind energy industry.
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