Theglobalwindpowerindustryispoisedtoaddmorethan241GWofcapacitybetween2012and2017, atanaveragegrowthrateof5.1% annually, accordingtoareportfromNavigantResearch. However, Navigantsaystheindustrywilllikelyfluctuateandfacechallengesalongtheway.
Thereportnotesthatwiththeadditionof44.9GWinnewinstallationsin2012, worldwindpowercapacitygrewtoapproximately285.7GW, anincreaseof18.6% inthetotalwindpowerinstallationbase. Averageannualgrowthoverthepastfiveyearshasbeen17.8%, achievedduringtheaftermathofthe2008financialcrisis, evenwithtraditionallylargemarketsforwindpowerineconomicrecessioninbothNorthAmericaandEurope.
“Thewindpowerindustrycontinuestodemonstrateitsabilitytorapidlyevolveinordertomeetnewdemandsinmarketsthatfaceavarietyofchallenges,” saysFengZhao, managingconsultantwithNavigantResearch.
“Windturbinevendorsaredesigningspecializedmachinesformaximumenergyproductioninlow-wind-speedareasandforoperationinhighaltitudes, incoldclimatesandoffshore,” Zhaocontinues. “Nevertheless, aslowdowninwindturbinesalesisanticipated, withadecreaseofmorethan10percentin2013comparedto2012.”
ThereportsaysthatdecreasewillbereflectedintheU.S. marketthisyear, asaresultof2012’slast-minuteone-yearextensionofthefederalproductiontaxcredit (PTC). TheU.S. marketwilllikelyfaceadditionalpoliticaluncertaintywhenthePTCexpiresagainlaterthisyear, thereportnotes.
NavigantexpectsestablishedEuropeanwindpowermarkets, suchasSpainandItaly, todeclineincomingyears, whileChina, theworld’slargestwindmarket, willremaininastateoftransitionfromaperiodofbreakneckgrowthtooneofmorestabledevelopment.
“Thewindpowerindustrycontinuestodemonstrateitsabilitytorapidlyevolveinordertomeetnewdemandsinmarketsthatfaceavarietyofchallenges,” saysFengZhao, managingconsultantwithNavigantResearch.
“Windturbinevendorsaredesigningspecializedmachinesformaximumenergyproductioninlow-wind-speedareasandforoperationinhighaltitudes, incoldclimatesandoffshore,” Zhaocontinues. “Nevertheless, aslowdowninwindturbinesalesisanticipated, withadecreaseofmorethan10percentin2013comparedto2012.”
ThereportsaysthatdecreasewillbereflectedintheU.S. marketthisyear, asaresultof2012’slast-minuteone-yearextensionofthefederalproductiontaxcredit (PTC). TheU.S. marketwilllikelyfaceadditionalpoliticaluncertaintywhenthePTCexpiresagainlaterthisyear, thereportnotes.
NavigantexpectsestablishedEuropeanwindpowermarkets, suchasSpainandItaly, todeclineincomingyears, whileChina, theworld’slargestwindmarket, willremaininastateoftransitionfromaperiodofbreakneckgrowthtooneofmorestabledevelopment.