Wind Industry Rebounding
Increase in new capacity currently under construction.
Compiled by staff
Published: Jan 31, 2011
The wind energy generation sector is picking up its pace in 2011 with 5,600 megawatts of new capacity currently under construction. That's a turn-a-round from the 5,115 megawatts of wind power constructed last year. Denise Bode, CEO of the American Wind Energy Association, says wind power is a great deal right now in many areas of the country. The cost of wind power generation is competitive with natural gas rates.
Bode points out that the industry continues to endure a boom-bust cycle because of the lack of long-term, predictable federal policies, in contrast to the permanent entitlements that fossil fuels have enjoyed for 90 years or more.
"Now that we're competing with natural gas on cost, we need consistent federal policies to ensure we have a diverse portfolio of energy sources in this country, and don't become over reliant on one source or another," Bode said.
The increase in new generation capacity began during last year's fourth quarter when nearly 3,200 megawatts of wind-powered electric generation capacity came online. The industry was buoyed by a one-year extension of the 1603 Investment Tax Credit for renewable energy in the final days of the 111th Congress. Further projects are expected to start up in time to meet the new construction deadline for the tax credit, now set to expire at the end of 2011.
Permalink: Click here
Tagged: Extension
|