Global Wind Power Market
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Global Wind Power Market
The costs associated with wind power keeps getting more and more competitive. With a growing demand from all over the world, capacity rose from 6,000 MW to about 59,000 MW by the end of 2005. From the early 80’s to 2006, the price on electricity produced by wind power dropped by about 80 percent. The average cost per KWH is now about 7 cents and that makes wind financially competitive with fossil fuels.
The capacity of turbines has enhanced greatly over the past ten years. More efficient technology and advancements in size of turbines results in a bigger power production.
India's Wind Energy Market Intends to Double Up
At the year-end of 2005 India had 4,430 Megawatts of wind power generation, by the year 2010 the country intends to double its wind energy generation. With a rapidly growing economy, India is on the hunt for alternative energy sources to fossil fuel derivate. In 2005 wind energy generation capacity increased by 48 percent.
Strong government engagement with fast approvals of investments and tax breaks has made this possible. Vilas Muttemvar who is the Minister of State for Non-Conventional Energy resources said that there are still obstacles to overcome for the planned growth to be realized. Development of wind turbines to be used with low speed winds is one of the challenges.
The World's Leader in Wind Power
Approximately 23 percent of the Danish Electricity consumption is supplied by wind energy systems, which makes the country a green energy world leader. There development of advanced technology, level of expertise and knowledge in wind energy is unrivalled.
Ninety percent of Denmark's wind turbines is locally made and sold to the international market; in 2003 they had an approximately 38 percent market share, generating a turnover of about 3 billion EURO. Wind turbine factories along with research and maintenance kept 20,000 employees occupied.
