|U.S. Wind Energy Continues Growth, DOE Reports Finds|
According to a Department of Energy (DOE) market report released August 10, total installed wind power capacity in the U.S. grew by 8 percent from 2013 to 2014, reaching a total of nearly 66 gigawatts of wind capacity. The U.S. now ranks second in the amount of installed wind capacity behind China, which had nearly 115 gigawatts installed as of the end of 2014. In 2014, wind energy made up 4.9 percent of end-use electricity demand in the U.S.
The report also found that wind was the third-largest source of newly installed generating capacity in 2014, behind natural gas and solar. It also noted that General Electric, Siemens and Vestas continued to dominate the wind turbine industry, making up 98 percent of the U.S. market in 2014. Additionally, the department noted that the 74,000 installed wind turbines have reached a distributed wind cumulative capacity of 906 megawatts. In 2014, 24 states added nearly 64 megawatts of new distributed wind capacity, according to the department's separate distributed wind market report for 2014.
The department noted that the price of wind energy has reached an all-time low and is now competitive with wholesale power prices and traditional energy sources in many parts of the country. The average wind power purchase agreement (PPA) prices signed in 2014 fell to $23.50 per megawatt hour, from nearly $70 per megawatt hour in 2009. However, the department said the PPA prices have been lowered due to federal, and in some cases, state tax financial incentives, such as the federal Production Tax Credit and Investment Tax Credit in 2014.
The 2014 Wind Technologies Market Report is available at http://energy.gov/sites/prod/files/2015/08/f25/2014-Wind-Technologies-Market-Report-8.7.pdf.
The 2014 Wind Distribution Market Report is available at http://energy.gov/sites/prod/files/2015/08/f25/2014-Distributed-Wind-Market-Report-8.7_0.pdf.