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The Future of Wind Power: Increasing Economic Competitiveness as the Technology Matures
Business Insights, Sep 2008, Pages: 127
This Business Insights report analyses the future of wind generation – one of the fastest growing areas of the power market. It looks at how the wind power technologies are maturing and evolving and their impact on the electricity generation landscape. It examines how technological developments, government renewable targets and capacity additions are having a massive impact on the economics and uptake of wind power. It also looks at some of the environmental and regulatory aspects acting as both drivers and resistors of wind power generation growth. Drawing on over 35 separate sources, the report analyses the most current thinking on wind power generation. It gives the most comprehensive view on the impact of high levels of capacity growth of wind power, and analyses forecasts for the economic competitiveness of the technology and uptake in both developed and emerging markets.
Portfolio of energy management reports are designed to help you make well informed and timely business decisions. We understand the problems facing today's energy executives when trying to drive your business forward, and appreciate the importance of accurate, up-to-date, incisive product, market and company analysis. This report helps you to crystallize your business decisions.
The strength of the publishers energy research and analysis is derived from access to unparalleled databases and libraries of information and the use of proprietary analytic techniques.The authors' leading positions secure them access to interview key executives and to establish which issues will be of greatest strategic significance for the industry.
The reports can be used across a wide range of business functions to assess market conditions and devise future strategies and cover the oil, gas, electricity and utility sectors and key energy issues including cogeneration and carbon sequestration.
Key questions answered by this report...
- How fast is wind power generation capacity growing?
- In what regions and countries will growth be highest in the future?
- What are the key environmental considerations around wind power?
- How cost competitive is wind power?
- What kind of an impact will increased wind power generation have on grid integration?
- How will the economics of wind power change in the future?
Some Key Findings:
- Wind accounted for 35% of all new capacity additions in the US and 40% of new capacity in Europe in 2007. Wind generating capacity in China grew by 127% in 2007 compared to 2006.
- Estimates vary widely in terms of global wind resource between 72,000GW and 1,000,000GW. In both cases the total potential is much greater than current global demand for electricity.
- Turbines installed in 2005 generate over 40 times more power than those installed in 1984. Replacing older turbines with larger modern ones (repowering) will be a key feature in capacity growth.
- The cost of integrating wind power is a major issue. Estimates average at $10/MWh, dependent on availability of hydropower for energy storage and levels of wind power penetration.
- Wind power is highly competitive with nuclear, supercritical coal and gas turbine power plants even without tax credits, based on recent levelized cost comparisons.
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