The US Department of Energy (DOE) just released its 2014 Wind Technologies Market Report this month and the results show a promising trend in the wind industry.
According to the study, wind energy supports 73,000 jobs, which is a 30% increase since 2013, while wind power prices have fallen to 2.35 cents per kWh for Power Purchase Agreements (PPAs); a decline of 66% since 2009.
The United States has placed third, behind China and Germany in annual installed capacity for 2014 and is second to China in total installed capacity for wind.
The DOE also looked at the overall pricing of wind energy projects over the years and noticed a downward trend; “Wind turbine prices have dropped substantially, despite increases in hub heights and larger rotor diameters. Recently announced transactions feature pricing in the $850–$1,250/kW range. These price reductions, coupled with improved turbine technology, have exerted downward pressure on project costs and wind power prices.”
Not surprisingly, more than 50% of the parts used in the manufacturing of wind turbines in the US were made in the Unites States. The main suppliers in the US were by market share were: GE (60%), Siemens (26%) and Vestas (12%).
To look at the potential for growth in the wind industry, along with the social, economic and environmental benefits of continued wind, you can also check out 2 other reports recently published by the DOE:
Wind Vision Report
Enabling Wind Power Nationwide