This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

U.S. Wind Power Doubles in Two Years

Written by Rachel Barron

The amount of wind power that the United States can generate has doubled to more than 20 gigawatts in the last two years, the American Wind Energy Association said Wednesday.

Renewable-energy policies, such as state mandates that require utilities to get a certain amount of their energy from renewable sources, have helped drive the growth of U.S. wind from 10 gigawatts in 2006.

The wind association, also known as AWEA, attributes part of the success of wind specifically to its lower production cost compared with other renewables, such as solar power.

Earlier this year, the association said the United States had passed Germany as the world's biggest wind-energy generator. Germany still wears the crown for having the most installed wind-power capacity, but the United States generated more wind power due to stronger winds.

AWEA expects the U.S. wind industry to reach a total capacity of about 24.3 gigawatts by the year's end.

Such expansion would mark wind as one of the fastest-growing electricity sources in the nation, second only to natural gas, in terms of production capacity. Wind made up 35 percent of the total electricity capacity installed in 2007, according to AWEA.

But capacity doesn't equal production. Wind power only provides about 1.5 percent of the nation's electricity.

The U.S. Department of Energy in May forecast that wind power could reach 20 percent of the nation's power supply by 2030.

AWEA said it is concerned that wind power might not realize its full potential if the federal government does not extend a production tax credit, which is set to expire at the end of this year.

The credit pays 2 cents per kilowatt-hour of wind electricity generated from utility-scale wind projects.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,678.70 +6.10 0.03%
S&P 500 2,057.09 +5.27 0.26%
NASDAQ 4,771.7630 +13.8840 0.29%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs