Wind energy may see resurgence in the coming year



Visit website

News Hub

The Earth Policy Institute has been tracking the status of wind energy capacity worldwide and predicts that the wind sector may experience a period of resurgence soon. In 2013, the wind sector bean to slow considerably in terms of growth. New installations in prominent markets had decreased due to economic and political issues. According to the Global Wind Energy Council, some 35,000 megawatts of new capacity were introduced in 2013, down from the 45,000 megawatts of new capacity that was brought online worldwide in 2012.

In the U.S., the production of new capacity dropped by 90% in 2013. This is partly due to the expiration of the Production Tax Credit, which had provided financial support to wind project throughout the country. While the initiative did not expire until the beginning of 2014, its expiration was announced well ahead of schedule in early 2013. This created an air of uncertainty among investors in the U.S. that had been comfortable with participating in the wind sector. Without the guaranteed financial support from the federal government, wind projects took on a significant degree of risk.