Renewable Energy
Blowin’ in the wind
Catherine Early, associate editor at Haymarket – publisher of the ENDS Report and Windpower Monthly – explains the current state of the wind sector and the promise of wave and tidal
D
espite political attacks and derision in the media, wind energy is still the investor’s
favourite, attracting $94.7bn in 2010, far beyond the $26.1bn spent on solar, its nearest renewable rival. The global market for wind power is
now worth $95.2bn, and is forecast to hit $159.2bn by 2015, according to industry analysts BTM Consult. Last year saw 35 gigawatts of wind capacity installed, even though the global fi nancial crisis took its toll and the market grew by only 20 percent – much lower than the average annual rate of 28 percent experienced between 2005 and 2009. However, analysts predict long-term
prospects remain solid, with installation expected to grow by an average of 15.5 percent a year between 2011 and 2015. The lack of international consensus to combat climate change has not spelled disaster for the industry – many countries, particularly in Europe, remain committed to national renewable energy targets. In other parts of the world, such as Latin America, the market is driven far more by concerns over energy security. The past few years, the industry has become increasingly globalized. More than 20 countries have passed the milestone of more than 1 GW of cumulative capacity of wind energy and seven install at least this much each year.
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ISSUE 04. SEPTEMBER 2011
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