U.S. wind power developers are installing record-high numbers of turbines in 2012 but that growth could weaken if a production tax credit expires at the end of this year, an industry group said. The U.S. wind industry in August for the first time surpassed 50,000 megawatts (MW) of generation capacity – enough to power 13 million homes, the American Wind Energy Association (AWEA) said in a report issued on Thursday.
The solar and wind-power equipment business is in a development phase that, like the car industry of the 1900s, is leading to a slump in numbers of manufacturers before it can mature, according to Bloomberg New Energy Finance.
“In 1903, the United States had over 500 car companies, most of which quickly fell by the wayside even as the automobile sector grew into an industrial juggernaut,” Chief Executive Officer Michael Liebreich said in a statement accompanying the release of two reports today based on data compiled by BNEF.
A pioneering proposal to build a wind power transmission line on the ocean floor from southern Virginia to northern New Jersey cleared a hurdle on Monday when the Interior Department opened the way for the project’s sponsors to start work on an environmental impact statement.
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