A study coming from Emerging Energy Research projects continued expansion of the wind energy market. It's being led by installations in China and the U.S. says EER.
Global investment in wind energy was about $8 billion in 2004, now its expected to hit $18 billion this year, and more than triple to $55 billion by 2015. The competition among sellers and the hot market has led to longer-term deals for wind turbines, and to regional sales agreements. Little one-off, single turbines purchases are definitely a thing of the past. This move to bigger deals and larger production levels is pushing suppliers in the wind industry.
According to EER Research Director Keith Hays. "To remain competitive, players across the supply chain--from bearings to blade suppliers--must rapidly scale up to meet this growing demand."
In the background, of course, is the increased cost of fossil fuels in the global market. Crude oil futures are selling now above $130 per barrel.