Wind Energy Markets Continue to Boom Globally

According to findings recently released by the Global Wind Energy Council (GWEC), wind energy markets around the world exceeded expectations in 2006, with the sector experiencing yet another record year. The findings, which include wind energy developments in more than 70 countries around the world, show that the year saw the installation of 15,197 megawatts (MW), taking the total installed wind energy capacity to 74,223 MW, up from 59,091 MW in 2005.

Despite constraints facing supply chains for wind turbines, the annual market for wind continued to increase at the rate of 32 percent following the 2005 record year, in which the market grew by 41 percent. This development shows that the global wind energy industry is responding fast to the challenge of manufacturing at the required level, and manages to deliver sustained growth.

In terms of economic value, the wind energy sector has now become firmly installed as one of the important players in the energy markets, with the total value of new generating equipment installed in 2006 reaching $23 billion (U.S.).

The countries with the highest total installed capacity are Germany (20,621 MW), Spain (11,615 MW), the United States (11,603 MW), India (6,270 MW) and Denmark (3,136). Thirteen countries around the world can now be counted among those with over 1000 MW of wind capacity, with France and Canada reaching this threshold in 2006.

In terms of new installed capacity in 2006, the United States continued to lead with 2,454 MW, followed by Germany (2,233 MW), India (1,840 MW), Spain (1,587 MW), China (1,347 MW) and France (810 MW). This development shows that new players such as France and China are gaining ground.

"The tremendous growth in 2006 shows that decision makers are starting to take seriously the benefits that wind energy development can bring. However, we must not forget that wind energy is a new technology that needs robust policy frameworks and political commitment to fulfill its full potential," said Arthouros Zervos, Chairman of GWEC.

Twenty-two percent of the world's new wind capacity was installed in North America, where the annual market increased by a third in 2005, gaining momentum in both the United States and Canada. And for the second year running, the US wind energy industry installed nearly 2,500 MW, making it the country with the most new wind power.

"Strong growth figures in the United States prove that wind is now a mainstream option for new power generation," said Randy Swisher, President of the American Wind Energy Association. "Wind's exponential growth reflects the nation's increasing demand for clean, safe and domestic energy, and continues to attract both private and public sources of capital. New generating capacity worth $4 billion was installed in 2006, billing wind as one of the largest sources of new power generation in the country—second only to natural gas—for the second year in a row."

Read more about these findings in the GWEC press release.