Wind To Boom Through The 2020s
U.S. Wind Energy Installations Surge: A New Turbine Rises Every 2.4 Hours; The wind power industry just chalked up its strongest first quarter in eight years. Tax credits play an important role.
Phil McKenna, May 3, 2017 (Inside Climate News)
“Every two and a half hours, workers installed a new wind turbine in the United States during the first quarter of 2017, marking the strongest start for the wind industry in eight years…Nationwide, wind provided 5.6 percent of all electricity produced in 2016, an amount of electricity generation that has more than doubled since 2010. Much of the demand for new wind energy generation in recent years has come from Fortune 500 companies including Home Depot, GM, Walmart and Microsoft that are buying wind energy in large part for its low, stable cost…[A recent study] projects continued steady growth for the wind energy industry through 2020. Energy analysts, however, say that growth could slow after 2020 as the federal Production Tax Credit (PTC) expires…A key driver in the early 2020s will be renewable portfolio standards in states like New York and California, which have both mandated that local utilities get 50 percent of their electricity from renewable sources by 2030…By the mid-2020s, the cost of unsubsidized onshore wind will be low enough to compete with both existing and new fossil-fueled generation in many regions of the U.S…” click here for more