New York, USA — ESI-AFRICA.COM — 02 November 2010 – The global wind industry will see a flat year in 2010 in new megawatt capacity installed, compared to 2009.
Inshore and offshore wind installations in 2010 are expected to total 37.7GW “’ down 2% from 2009 “’ but are set to bounce back to 45GW in 2011. Bloomberg New Energy Finance reports that it expects the sector to continue to grow in the years that follow, with an average of 48GW to be added in years 2012- and 2013.
“While activity in 2010 will remain roughly even from 2009, growth rates vary widely across regions, with the rapidly growing nations of the developing world leading the way,” the report says. “China once again will be the global leader and will install 25% more new capacity than in 2009, when the country set a record with 14000 new megawatts.
China’s growth in wind energy contrasts with a considerably gloomier picture in the United States, where Bloomberg New Energy Finance expects installations to fall 39% in 2010 compared to 2009.
The US market continues to be challenged by fallout from the financial crisis, low power prices and an uncertain medium-to-long term policy environment. The US remained relatively subdued in terms of all types of clean energy asset finance, not just in wind, in Q3 of 2010, with US$4.4billion (R30 Billion) invested, down from US$5.1billion (R34.7 billion) in Q2.
Turbine prices have remained weak around the world in 2010, and Bloomberg New Energy Finance expects prices to continue to fall in 2011 as turbine manufacturing capacity exceeds demand in all regions by a significant margin.
Bloomberg New Energy Finance is expecting to see 21% growth in installations in 2011 to 45.0GW, with the majority of this coming from non-traditional wind markets in Latin America and Asia. The group is also predicting that offshore wind installations will more than double between 2010 and 2013, rising from 1.3GW to 3.3GW per year. Europe will lead the way with 80% of these installations, specifically in the UK and Germany.