The World's #1 Renewable Energy Network for News, Information, and Companies.
Untitled Document

Global Wind Market Slows in 2010

The analysis firm Bloomberg New Energy Finance released figures on the global wind market this week. As expected, BNEF reports that the European and American markets will decline. However, the challenges in those countries were balanced out by another big year in China.

Here's what BNEF found, as reported by its research staff:

The global wind industry will see a flat year in 2010, as measured in new megawatts capacity installed, compared to 2009. Onshore and offshore wind installations in 2010 are expected to total 37.7GW, down 2% from 2009, but are set to bounce back to 45GW in 2011. Bloomberg New Energy Finance expects the sector to continue to grow in the years that follow, with an average of 48GW to be added in years 2012-2013.

While activity in 2010 will remain roughly even from 2009, growth rates vary widely across regions, with the rapidly growing nations of the developing world leading the way. China onc e again will be the global leader and will install 25% more new capacity than in 2009, when the country set a record with 14,000 new megawatts. The growth in China's installations is underpinned by record levels of investment, which in Q3 2010 represented just under half of all funds put into new wind projects globally. Approximately one in two wind turbines to go online in 2010 will be in China.

China’s growth in wind energy contrasts with a considerably gloomier picture in the US, where Bloomberg New Energy Finance expects installations to fall 39% in 2010 compared to 2009. The US market continues to be challenged by fallout from the financial crisis, low power prices and an uncertain medium-to-long term policy environment. Low natural gas prices remain a particular problem, since they bring down the cost of gas-fired electricity and therefore make it hard for wind project developers to negotiate attractive power purchase agreements with US utilities. The US remained relatively subdued in terms of all types of clean energy asset finance, not just in wind, in Q3 2010, with $4.4bn invested, down from $5.1bn in Q2.

Turbine prices have remained weak around the world in 2010. The latest version of the Bloomberg New Energy Finance Wind Turbine Pride index shows the median price for turbines ordered so far in 2010 (including towers and transport) was equivalent to $1.4m per Megawatt of capacity, down from a peak of $1.79m per Megawatt in 2008. Bloomberg New Energy Finance expects prices to continue to fall in 2011 as turbine manufacturing capacity exceeds demand in all regions by a significant margin.

Bloomberg New Energy Finance is expecting to see 21% growth in installations in 2011 to 45.0GW, with the majority of this coming from non-traditional wind markets in Latin America and Asia. The group is also predicting that offshore wind installations will more than double between 2010 and 2013, rising from 1.3GW to 3.3GW per year. Europe will lead the way with 80% of these installations, specifically in the UK and Germany.

Untitled Document

RELATED ARTICLES

Renewable Energy Gains Greater Opportunity in US Clean Power Plan

Elisa Wood After a year of being pummeled by opponents, Obama’s final carbon reduction plan emerged this week with an even stronger push for renewable energy. Wind and solar energy are centerpieces of the Clean Power Plan, the United ...
6 Things Every American Should Know About the Clean Power Plan

6 Things Every American Should Know About the Clean Power Plan

President Obama unveiled the U.S. Environmental Protection Agency’s (EPA’s) Clean Power Plan—a historic step to cut the carbon pollution driving climate change. Here are six key things every American should know.

Duke Renewables Acquires 50-MW of California Solar Projects

Andrew Burger Duke Energy Renewables is expanding its investment portfolio, on July 28 announcing the acquisition of two utility-scale PV projects in California. Acquisition of the 20-MW Seville I and 30-MW Seville II power plants from K...

The Future of Renewable Power in Mexico

Daniel Chavez The abundance of diverse renewable energy resources, growing demand for power, macroeconomic stability, and historically high electricity prices continue to position Mexico as one of the most attractive destinations for inv...
Renewable Energy World's network editors help deliver the most comprehensive news coverage of the renewable energy industries. Based in the U.S. and the UK, the team is comprised of editors from Pennwell Corporation's myriad of publications that ...

CURRENT MAGAZINE ISSUE

Volume 18, Issue 4
1507REW_C11

STAY CONNECTED

To register for our free
e-Newsletters, subscribe today:

SOCIAL ACTIVITY

Tweet the Editors! @megcichon @jennrunyon

FEATURED PARTNERS



EVENTS

Doing Business in South Africa – in partnership with GWEC, the Glob...

Wind Energy in South Africa has been expanding dramatically, growing fro...

2015 AREDAY Summit

The 12th Annual AREDAY Summit, August 8-13th in Snowmass Colorado. Engag...

StartUp Green

AREI, American Renewable Energy Institute, in partnership with ...

COMPANY BLOGS

Clean Energy Patents Maintain High Levels in First Quarter, Solar L...

U.S. patents for Clean Energy technologies from the first quarter of 201...

Fact Check: AWEA represents American wind power

The American Wind Energy Association (AWEA) is proud of its members for ...

Koch Professor drops his Koch title, still makes same errors plus s...

The Koch Professor’s title isn’t the only thing that’s...

NEWSLETTERS

Renewable Energy: Subscribe Now

Solar Energy: Subscribe Now

Wind Energy: Subscribe Now

Geothermal Energy: Subscribe Now

Bioenergy: Subscribe Now  

 

FEATURED PARTNERS