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Wind Power Ed 5 Report
ABS Energy Research, Dec 2008, Pages: 237
2008 has been a significant year for the wind energy industry. Once again, the forecast for future installations of wind power has been increased, as installations escalate. The Global wind energy installed capacity was 94 GW by the end of 2007 and it is estimated that it will reach 120 GW by the end of 2008. It has been doubling every three years during the last decade. The extraordinary growth in 2008 has been due to unexpected increases (estimated) of 7 GW in China and 7.5 GW in the USA.
As is the case with almost every issue of this report we have increased the forecast for 2010, from 142 GW to 179GW, representing a CAGR of 25%. The higher rate of increase is driven by the unexpectedly high growth in the USA and China. The annual global wind market value in 2007 totalled €25 billion ($37 billion), an increase of 39% on €18 billion ($23 billion) in 2006 (in current values).
The new Wind Power Report looks for the first time at the supply chain constraints in the electrical industry and specifically Tier 1, Tier 2 and Balance of System suppliers to the wind turbine manufacturers. Many countries have increased their targets for renewable energy during the year and countries without targets have set targets. The report surveys the market and industry developments up to the end of 2008 and projects forward to 2010.It contains data for all countries up to the end of 2007 but also more recent data for the leading countries either to mid 2008 or estimated for the end of 2008.
The unexpected growth in the USA and China completely alters the world wind energy profile with both countries set to march out to the front. Perhaps even more extraordinary is the announcement by the Korean government that it has made alternative energy a strategic objective, with specific reference to hydrogen, wind and solar PV. The target is for Korea to have 10% of the global wind turbine market by 2020.The Korean government has big strategic plans for renewables and for wind power is planning to enter the market in 2011. They are aiming for a 10% share of the global wind turbine market in 2020. Korean companies are already working on 5 MW turbines. The two largest ship builders in the world, Korea’s Hyundai and Doosan have announced that they will seek to offset a down turn in ship building by entering new industries, among them wind energy. What makes these
announcements particularly interesting is that the Koreans have a track record of achieving the targets they set themselves.
Report Scope:
- The Wind Power Report looks for the first time at the supply chain constraints in the electrical industry and specifically Tier 1, Tier 2 and Balance of System suppliers to the wind turbine manufacturers.
- Many countries have increased their targets for renewable energy during the year
- Countries without targets have set targets
- The report surveys the market and industry developments up to the end of 2008 and projects forward to 2010.
- It contains data for all countries up to the end of 2007 but also more recent data for the leading countries either to mid 2008 or estimated for the end of 2008
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