The market for wind energy in the US has been registering significant growth in the past decade, due to strong support mechanisms provided by the government.
Online PR News – 21-January-2010 – – Supportive policies in the form of Federal level Renewable Portfolio Standards (RPS), Federal Tax Credits and financial packages supporting renewable energy like American Recovery and Reinvestment Act (ARRA) introduced by the US government are expected to boost wind power uptake in the country. As the US consolidates its position as the biggest wind power market, the US wind turbine supply chain is currently considered to be underdeveloped. This presents an opportunity to wind turbine and equipment manufacturers from across the world to grab a slice of the growing market.
The market for wind energy in the US has been registering significant growth in the past decade, due to strong support mechanisms provided by the government. Annual wind power installation in the country has been significantly increasing during the period 2001-08 except for 2002 and 2004. Expiry of the PTC scheme in 2001 and 2003 resulted in a drop in installation during 2002 and 2004. Policy and financial support from the government led to an increase in installations from 4,275MW in 2001 to 25,369MW by 2008, at a CAGR of 28.9%.
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