The global wind power industry is bottoming out thanks to the global financing crisis. Everywhere but China, that is, according to a research update issued this week by consultancy Emerging Energy Research (Cambridge, MA).
EER adds up the impact of “a steady flow of wind industry CAPEX reductions, project postponements, order cancellations, and corporate downsizings on a scale never seen before in this relatively young segment of the energy sector.” They forecast a 24% decline in megawatts installed in the US this year over 2008, and a 19% decline in Europe.
Then there’s China, which EER calls “the only major market left standing in the face of the crisis.” EER projects a 59% jump in megawatts added there in 2009 — enough to make up for the U.S. and European losses.
Carbon-Nation readers will recall our June 2008 reporting on China’s wind sector that was already, then, notable for (a) its “endurance in the face of below-cost pricing” and, (b) low quality assurance that had even its trade association calling for slower growth. Looks like its too late for the latter.
This post was created for Energywise, IEEE Spectrum’s blog on green power, cars and climate