U.S. wind power capacity increased by 46% in 2007, with $9 billion invested in U.S. wind plants in 2007 alone, making the U.S. the fastest-growing wind power market in the world for the third straight year, according to new figures released by the U.S. Department of Energy.
The Annual Report on U.S. Wind Power Installation, Cost, and Performance Trends also showed that wind is on a path to becoming a significant contributor to the U.S. power mix. Wind projects accounted for 35% of all new U.S. electric generating capacity in 2007, and transmission facilities capable of generating a total of over 200 gigawatts (GW) of wind power are in the early stages of development throughout the nation.
DOE Assistant Secretary for Energy Efficiency and Renewable Energy Andy Karsner said, "This record-shattering year of wind additions shows that wind power is already one of the most important, emission-free sources of energy being deployed to address climate change and improve our energy security."
First issued last year, the report analyzes developments in the wind market, including trends in wind installations, turbine size, turbine prices, installed project costs, project performance, wind power prices, and cost comparisons between wind power and conventional generation. It also describes developer consolidation trends, current ownership and financing structures, and trends among major wind power purchasers.
Some of the key findings of the Report include:
- Despite rising project costs, in recent years, wind power has consistently been priced at, or below, the average price of conventional electricity, as reflected in wholesale power prices.
- States as geographically diverse as Texas, Colorado, Illinois, and Oregon led the U.S. in annual capacity growth in 2007; nine states had enough wind capacity at the end of 2007 to account for more than 3% of total in-state electricity generation.
- New turbine and component manufacturing facilities opened or announced in 2007 could create more than 4,700 new wind jobs in the U.S.
The U.S. Energy Information Administration also released preliminary 2007 figures for Renewable Energy Consumption and Electricity, which showed that overall renewable energy consumption declined 1% between 2006 and 2007.
In contrast, both total and non-renewable energy consumption increased 2%.
Just over half of renewable energy consumption occurred in the electric power sector in 2007. The industrial sector was the second-leading consumer of renewable energy, accounting for nearly 30 percent. The transportation, residential, and commercial sectors accounted for 9, 8 and 2%, respectively.
Hydro electricity dropped 14% in 2007 due to reduced precipitation in several regions of the country. On the plus side, biomass-based energy grew 7% and wind-generated electricity jumped 21%.
With the exception of hydro, changes in renewable electricity capacity generally reflected generation changes in 2007. Total renewable electricity capacity rose 5% to 107 thousand megawatts (MW), led by a 38% (or 4,000 MW) increase in wind capacity. Total nonrenewable electric capacity rose just 1% to 892 thousand megawatts.
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