US Wind Market Growing Fastest In World

11 August 2009 (Last Updated August 11th, 2009 18:30)

The US is home to the world’s fastest growing wind power market in the world, according to a new report. The report issued by the US Department of Energy (DOE) and drafted by Berkeley Lab, said that in 2008 the US spent $16bn on new wind developments with wind energy capacity additions

The US is home to the world’s fastest growing wind power market in the world, according to a new report.

The report issued by the US Department of Energy (DOE) and drafted by Berkeley Lab, said that in 2008 the US spent $16bn on new wind developments with wind energy capacity additions rising by 60%, making the US the fastest growing wind market for the fourth consecutive year.

The Berkeley Lab’s report author Ryan Wiser said that wind would soon represent a major part of America’s power mix.

Last year, wind represented 42% of all new electric generating capacity added in the US. Wind energy currently accounts for roughly 2% of America’s power supply.

The report also said that market growth is triggering manufacturing investments in the US and wind power growth is evenly spread throughout the country.

The report projects slower growth in 2009 because of the effects of the economic downturn, while 2010 is predicted to show a resurgence in the market.