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Analyzing the European Wind Power Industry

Europe wind power market: New market research published


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2014-02-20 21:29:01 - Analyzing the European Wind Power Industry - a new market research report on companiesandmarkets.com

As demand on finite petroleum reserves and the price of the fuels derived from them continues to rise, renewable forms of energy are becoming more cost-effective and profitable. In the forefront of this renewable revolution is harnessing the sustainable power of wind.

Today it is one of the most positive developments created by the present storm of uncertainty unleashed as a result of escalating oil prices, climate change, environmental degradation, dwindling fossil fuel stocks and dependence on foreign energy supplies.

The rise of wind energy is no longer being looked upon as an alternate source of energy.

By the end of the year 2008, 120 gigawatts of wind power capacity were installed worldwide, after 94 gigawatts by the end of 2007. Already today

 

 

wind provides more than 1.5% of the global electricity consumption and the wind industry employs half a million people. Currently, 80 countries are using wind energy on a commercial basis, with the main shares in Germany, USA, Spain, China and India which still account for three quarters of the global wind installations. North America and Asia showed the most dynamic growth rates in the year 2008.

Europeans have always been highly favorable to wind energy, and over the last eight years, only new gas capacity has exceeded new wind power capacity in the EU. Since 2000, 30% of all installed electricity generating capacity in the EU has been wind power. For 2008, statistics released by the European Wind Energy Association (EWEA) show that 43% of all new electricity generating capacity built in the European Union last year was wind energy, exceeding all other technologies including gas, coal and nuclear power. While wind energy today meets 3.7% of EU´s electricity demand, the technology is already the second largest contributor to economic activity and employment in the area of power plant manufacturing.

Germany and Spain are still battling over the top spot. In 2008, Germany is back in a narrow lead with 1,665 MW against Spain´s 1,609 MW. But overall, 2008 saw a much more balanced expansion led by France, the UK and Italy, part of a ´second wave´ of countries that are providing real momentum to the surge in wind energy.

A distinct ´third wave´ became visible for the first time in 2008 as the new Member States had their strongest year ever. Hungary doubled its capacity to 127 MW and Bulgaria tripled its capacity from 57 MW to 158 MW.

The European Union has set a binding target of 20% of its energy supply to come from wind and other renewable sources by 2020. In order to achieve this 20% energy target, more than one-third of the European electrical demand would have to come from renewables, with wind power expected to deliver 12-14%.

As of January 2009, Britain is the world´s leading generator of offshore wind power, followed by Denmark.

Wind energy is today the best panacea for the three current crises - energy, finance and climate.

However wind also presents some challenges - particularly because it is, by its very nature, a variable source.

Our report, Analyzing the European Wind Power Industry, is a complete analysis of the wind energy industry in Europe. The report analyzes the present global and regional market scenario, the prevalent wind resources in this continent, governmental policies, future projections, detailed analysis of the leading states/province and much more.

The report is a highly comprehensive research compilation of the booming wind power industry in Europe. The report also provides a look at the overall European energy industry and a brief profile of the global wind power industry as well.

The report, Analyzing the European Wind Power Industry, explores the importance of wind power in today´s world. The report looks at the basics of the wind energy industry, economics, issues and barriers, and other such factors.

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Mike King
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