Page 27 - PCCAJournal4thQuarter2011

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PCCA Journal|4
Quarter 2011
North America will more than double over the next six years,
increasing from approximately 53,000 megawatts in 2011 to
almost 126,000 megawatts by 2017.
“This will be another difficult year for wind power in
North America, but we do see signs of recovery,” said senior
analyst Peter Asmus. “Larger, more efficient turbines are gen-
erating greater amounts of wind power at lower costs, and
both the U.S. and Canadian govern-
ments have shown strong commitment
to the wind industry during this chal-
lenging economic time.”
Pike Research forecasts that approxi-
mately $820 billion will be invested
globally in onshore and offshore wind
turbines between 2011 and 2017. North
America’s share of this total is expected
to be $145 billion. The United States
produces more electricity from wind
energy than any other country—enough
to power 10 million homes—but this
still represents only 2.3 percent of total
power generation in the United States.
By comparison, Denmark now derives
20 percent of its electricity from wind
power, and several other Western Euro-
pean countries are above 10 percent.
One of the key factors for renewed
growth in the wind power industry is
the development of offshore resources.
Lacking a coordinated policy frame-
work that would provide government
support and investment certainty for
transmission, developers and manufac-
turers in the United States and Canada
are looking for ways to bring even
larger economies of scale to the wind
power market. Large, untapped offshore
wind resources offer a primary path for-
Pike Research’s report, “Wind Energy
Outlook for North America,” provides
an in-depth analysis of North American
opportunities in the onshore and off-
shore wind power markets, as well as
an examination of key challenges facing
the industry. It examines technology in-
novations that will influence the future
direction of the market and features de-
tailed profiles of key industry players, including a competitive
regional analysis of the major wind energy markets across
their respective technology, policy, and capital environments.
Market forecasts extend through 2017 and include projections
for installed capacity, installation costs, and offshore produc-
tion revenue, all segmented by onshore, offshore, region, and