Wind Power Generation
- ID: 1283544
- January 2016
- Region: United States
- 10 Pages
- First Research
Brief Excerpt from Industry Overview Chapter:
Companies in this industry operate power generation facilities that use turbines to convert wind into electricity. Major companies include US-based Berkshire Hathaway Energy, Invenergy, and NextEra Energy, as well as EDP Renováveis and IBERDROLA (both based in Spain), EDF Renewable Energy (France), and EON Climate & Renewables (Germany).
The value of the world's wind energy market is about $95 billion, according to Navigant Research. Global wind turbine capacity totals about 370 gigawatts (GW). Major sources of new wind farm development include China, Germany, the US, Brazil, India, and Canada, according to the Global Wind Energy Council. Emerging markets, primarily in Asia, Africa, and Latin America, represent new development opportunities for global wind power generators.
The US wind power generation industry includes about 400 establishments (single-location companies and units of multi-location companies) that operate varying numbers of wind turbine farms and have combined annual revenue of about $5 billion.
Demand for wind power generation is driven by public support for alternative, nonpolluting renewable energy production methods, along with government incentives that encourage the production and use of renewable energy. Profitability of individual companies depends on strategically locating wind farms in geographies with sufficient wind conditions and access to electric transmission facilities. Large companies often have other energy holdings (such as traditional electricity generation plants and energy distribution operations), enjoy economies of scale in equipment purchasing, and can serve a broader geographic area.
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