NewEnergyNews: WIND FINISHES 2014 BIG

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    Thursday, January 29, 2015

    WIND FINISHES 2014 BIG

    American wind power rebounded in 2014, adding over four times as much as year before; Stable policy needed for investment in U.S. capacity to pay off, say industry leaders

    January 28, 2015 (American Wind Energy Association)

    “…The American Wind Energy Association (AWEA) [Q4 report] shows the U.S. industry’s rebound in 2014, with over four times more new wind energy coming online than in 2013…[bringing the 2014 total to] 4,850 megawatts (MW) in generating capacity, with cumulative installed capacity increasing eight percent to a total of 65,875 MW…equal [over a full year] to taking 28 million cars off the road…However, the amount installed in 2014 still falls far short of the record 13,000 MW that the U.S. wind energy industry was able to complete during 2012…Industry leaders blamed uncertainty over…[the production tax credit (PTC) which has encouraged $125 billion dollars of investment across America, creating 500 U.S. manufacturing facilities and technological innovations that lowered the wind power's costs by more than half in the last five years…Nearly 30,000 well-paying jobs and tens of billions of dollars in private investment were lost due to the PTC lapse at the beginning of 2013…”

    “Wind projects were completed in 19 states in 2014…[T]he industry continues to see near-record levels of under construction activity, with over 12,700 MW of wind under construction [in 22 states] as 2015 began… Utilities continue to sign some of the lowest cost long-term contracts ever seen for wind energy. Since the beginning of 2014, there have been more than 3,300 MW of power purchase agreements (PPAs) for wind power signed across 14 states. In total, over 12,000 MW of long-term contracts for wind power have been signed since the start of 2013…Utilities continue to highlight wind’s ability to keep costs low for consumers…Wind power saved consumers $1 billion over just two days across the Great Lakes and Mid-Atlantic states during the 2014 “Polar Vortex” event…” click here for more

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