US DoE releases 2007 'Annual Report on Wind Power Installation, Cost and Performance Trends'

29 May 2008
The US Department of Energy today released its annual report which provides a comprehensive overview of developments in the rapidly evolving US wind power market. The report draws attention to the fact that US wind power capacity increased by 46 per cent in 2007, with US$9bn invested in US wind plants in 2007 alone making the US the fastest growing wind power market in the world for the third year.

Figure from report showing price of wind vs. price of wholesale power

Some of the key findings of the report;

* The U.S. is the fastest-growing wind market worldwide. The U.S. has led the world in new wind capacity for three straight years, and 1.2 percent of the nation’s electricity supply could be met with the wind capacity on line at the end of 2007.

* Growth is distributed across much of the US. States as diverse as Texas, Colorado, Illinois, and Oregon led the U.S. in annual capacity growth in 2007; nine states had enough wind capacity at the end of 2007 to account for more than three percent of total in-state electricity generation.

* Market growth is spurring manufacturing investments in the U.S. Several major foreign wind turbine manufacturers either opened or announced new U.S. wind turbine manufacturing plants in 2007. New and existing U.S.-based manufacturers also either initiated or scaled-up production. All told, the new turbine and component manufacturing facilities opened or announced in 2007 could create more than 4,700 new jobs in the U.S.

* Wind turbine prices and installed project costs have risen since 2002. Turbine price increases have been driven by weakness in the dollar, higher prices for materials and energy inputs, and shortages in certain turbine components – factors that are impacting many different types of generating technologies.

* Wind project performance has improved in recent years. This improvement in project performance has been driven in part by enhanced project siting and technological advancements.

* Wind power is competitive and has provided good value in wholesale power markets. Despite rising project costs, in recent years, wind power has consistently been priced at, or below, the average price of conventional electricity, as reflected in wholesale power prices..

DoE press release

Full report ( 3.9 MB)

WEICan contact for additional information:
James Glennie
Office: +1-902-882-4128