European wind energy companies have been making a beeline for the United States, which is fast emerging as an investment hub for wind energy generators. The United States is drawing in investors from Denmark, Germany, and Spain with its increased focus on alternate energy sources, technology advances, and tax break extensions.
This has compelled the domestic companies to be on their toes. Meanwhile, the wind power market in Canada has become increasingly dynamic due to federal and more importantly, provincial efforts to promote it. The country will greatly benefit from the new wind legislation aimed at achieving 10,000 MW wind power generation by 2010.
The U.S. market witnessed a late surge in new wind turbines installations in the past two years, but it still trails Germany in the global ranking. Meanwhile, in wind power production, it is only a notch below Spain, according to the Global Wind Energy Council. To extend this good form and augment turbine installations, wind turbine vendors will have to sort out issues regarding gearboxes, castings, and blades in the supply chain.
They can achieve this by developing close ties with component suppliers. The high demand for turbines will encourage suppliers to increase capacity during the design of their manufacturing facilities.
Renewable Policy Adoption and Implementation Sways Market Trends in the Wind Energy Market
In the United States, production tax credit (PTC) continues to be an influential growth factor, as installations have been increasing and decreasing depending on PTC's extension and termination. "Industrial investments in production base and developer confidence have also been affected due to wavering PTC policy," says the analyst of this research.
"However, state-based polices such as Renewable Portfolio Standards (RPS), Renewable Electricity Standards, and Renewable Energy Production Incentive (REPI) have moderately compensated for inconsistency in PTC implementation."
U.S. companies can take heart from the issuance of renewable energy certificate (REC), which encourages domestic generation renewable energy. Market participants have also begun to understand that the future trends will be influenced more by RPS than PTC, although the latter will still function as a developer confidence indicator. "Reforms such as the proposed wind energy system standardization and utility integrated resource planning (IRP) methodologies, have found active support from both the utilities and the industry," notes the analyst.
"The idea is to effectively integrate renewable energy systems such as wind energy systems into a utility's current grid and transmission systems to both satisfy RPS obligations and answer connectivity issues." These initiatives have enhanced accountability and troubleshooting in the wind energy market, making it more competitive than other renewable energy market.
Technologies
The following technologies are covered in this research:
-T and D
-Renewable energy
-Power generation
-Oil and gas
Market Sectors
Expert Frost and Sullivan analysts thoroughly examine the following market sectors in this research:
-Energy and power supplies
-Transmission and distribution
-Power generation
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