US Wind Turbine Market Project To Go Nuts
According to a new technical market research report, WIND TURBINES: THE U.S. MARKET from BCC Research, the domestic market for wind turbine components and systems will be worth $60.9 billion in 2013. This represents an increase from the 2007 market value of $7.9 billion and the estimated 2008 market value of $11.2 billion. The compound annual growth rate (CAGR) between 2008 and 2013 is expected to be 40.0%.
The market is analyzed by state and includes the top ten spenders on wind turbine technology: Texas, California, Iowa, Minnesota, Washington, Oregon, Colorado, New York, Kansas and Illinois. Texas has the largest statewide expenditure, exceeding $2.4 billion in 2007 and an estimated $3.0 billion in 2008. This should grow at a CAGR of 38.0% to reach $15.2 billion in 2013.
In 2007 Colorado spent over $1.2 billion on wind turbines, second only to Texas. Colorado has not recorded any wind turbine installations for 2008. The projection is that Colorado will install approximately $3.7 billion worth of wind turbines in 2013.
California has often been the testing grounds for new wind turbine developments and technologies, and is expected to surge ahead in the coming years. From anticipated spending of over $676.0 million on wind turbines in 2008, California is expected to spend as much as $17.1 billion in 2013, a CAGR of 91.0%.
Iowa is expected to spend over $1.3 billion in 2008 and over $3.1 billion in 2013, a CAGR of 19.0%.
Minnesota had very strong growth in 2007 with expenditures of $607.0 million, which will decrease in 2008 to roughly $142.0 million. Nonetheless, they are expected to spend nearly $2.8 billion in 2013.
The State of Washington had significant expenditures in 2006 and 2007, both above $500.0 million. They are expected to spend about half of that amount in 2008 and approximately $2.2 billion in 2013.
Sentate Passes PTC, Now Lets Work On The House
Urge Your Representative to Vote for the Production Tax Credit (PTC) Extension.
Thanks to you for making your voice heard on Capitol Hill. The U.S. Senate just voted overwhelmingly, 93 to 2, to approve legislation containing a one-year extension of the crucial wind energy Production Tax Credit (PTC) through December 31, 2009. The bill, H.R. 6049, also would create a new investment tax credit for purchases of small wind systems used to power homes, farms and small businesses.
Next, the bill must be approved by the full House of Representatives in a vote late this week. Once again, your voices are crucial in order to clear this final hurdle before Congress adjourns at the end of September. This vote is the last opportunity this year for Congress to extend the PTC.
Wind energy is not only a significant component of the global warming solution, but also a powerful engine in the U.S. economy. Since January 2007, more than 40 wind industry manufacturing facilities have been announced, brought online, or expanded in the U.S., creating over 9,000 jobs and $1 billion in manufacturing investment. When the PTC has lapsed in the past, wind energy investments have fallen 73-93% in the following years. We cannot allow this bright spot in our economy to burn out.
Please contact your Representative and urge him or her to vote Yes on H.R. 6049.
Take Action!Contact Your Senators And Urge Them To Vote For The PTC Extension
The Senate will vote on the Baucus/Grassley Amendment to H.R. 6049, which contains an extension of the Production Tax Credit (PTC) for wind energy for an additional year. The Senate will also vote on the final passage of H.R. 6049. If the Senate passes the bill, it will quickly move to the House of Representatives where it will be voted on later this week. This could be that last opportunity this year for Congress to extend the PTC. We must urge Congress to successfully pass an extension of the PTC, which is set to expire at the end of 2008, before they adjourn for recess at the end of the week.
Wind energy is not only a significant component of the global warming solution, but also a powerful engine in the U.S. economy. Since January 2007, more than 40 wind industry manufacturing facilities have been announced, brought online, or expanded in the U.S., creating over 9,000 jobs and $1 billion in manufacturing investment. When the PTC has lapsed in the past, wind energy investments have fallen 73-93% in the following years. We cannot allow this bright spot in our economy to burn out.
Please contact your Senators and urge them to vote Yes on the Baucus/Grassley Amendment to H.R. 6049 and the Yes on the final passage of H.R. 6049.
Everything Is Connected
Remember just because something makes you money doesn’t mean it is good for you.
Republicans Destroyed Our Economy, Environment, And World Reputation
This situation didn’t happen by accident.
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