Buoyant wind market India and China are among top five growing markets for wind energy
| Worldwide wind energy |
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| Total installed capacity 2007: 93.9 GW |
| Growth in top wind markets |
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Of the various renewable energy sources, wind energy is making a significant contribution to the installed capacity of power generation and is emerging a competitive option It is used in more than 70 countries and contributes to 1.3 per cent of the global electricity consumption. In some countries, wind energy contributes to 40 per cent or more of their power needs Germany, the us, Spain, India and China are the top five countries with growing wind markets. At the end of 2007, worldwide capacity of wind-powered generators was 93,849 mw The market for new wind turbines increased nearly tenfold in the last ten years.The overall size of wind turbines market in 2007 was 19,696 mw, up from 15,120 mw in 2006 (30 per cent growth) Based on this increase, experts predict that by 2010, the world will generate about 170,000 mw of wind power After a decrease in the average worldwide growth rate between 1999 and 2004, the wind market expanded steadily In 2005, the market grew by 23.8 per cent, in 2006 it grew by 25.6 per cent and in 2007 by 26.6 per cent Experts are, however, worried about the uneven distribution of the market growth across the countries:
Though 2007 was a spectacular year for the wind industry worldwide, the increase in the average growth rate was primarily due to booming wind markets in the top five wind countries Growth of the wind industry in 20 out of the top 40 countries slowed down in 2007. Europe, which generates the maximum wind power, decreased its share in installed capacity from 65.5 per cent in 2006 to 61 per cent in 2007 Most developing countries in Latin America and Africa are yet to invest in wind energy in any significant manner. By 2007, these countries fell back in terms of new installations and counted for only 0.6 per cent and 0.4 per cent of the global wind power generation In 2007, Asian countries, however, showed a significant growth in promoting wind power. In 2007 alone, China added 3,313 mw of wind power and India added 1,580 mw of wind power to their already installed capacity India and China are already among top five wind markets, but both these countries need to invest more on renewable wind energy to meet their growing need for power in a sustainable manner Source: Press Release (February 21, 2008), World Wind Energy Association