Dec 3 2010
A recent research report from GlobalData indicates the changing trends in the global wind power production. The report mentions that in a span of 20 years, the wind energy from its budding stage has emerged as a full-fledged commercial power generation technology.
Quantifying the growth of wind energy generation, the report mentions that the global wind power generation capability has come a long way from a mere 24,052 MW in 2001 to 160,014 MW in 2009 with an aggregate growth of 27%. The report attributes reduced costs in wind power production, reduced level of fossil fuel reserves and growing ecological awareness as reasons for this growth.
According to the report, wind turbine installations have grown by 32% in 2009 from 2008 with an installed capacity of 36,887 MW in 2009 alone. The global wind power market estimated to be over $51 billion employs nearly 500,000 people all over the world. The report mentions that various technological innovations that have taken place to improve the efficiency of the wind turbines, their dependability and above all the power conversion capabilities as reason for this growth. The report anticipates that the wind energy generation will maintain an important role in the worldwide power generation market and in improving the economy of the world by offering more number of employment opportunities.
The report points out that the wind turbine market in Asia-Pacific regions has surfaced as the biggest wind turbine market in 2009, pushing down the European markets. It mentions that the Asia-Pacific market has witnessed a CAGR of 55% from 2001 to 2009 and augmented its power generation from 466 MW in 2001 to 15.88 GW in 2009. The report points out that the policy frame work and regulatory policies of the Chinese government has enabled the Chinese Wind turbine market to reach its maximum growth during the period. The report states that China has witnessed nearly 100% growth since 2006 due to its prevailing Feed-in tariff plan that supports the wind farm all through its operational period.