Report Buyer, the online destination for business intelligence for major industry sectors, has added a new report analysing the global wind energy market.

The publication Global Wind Energy Market Analysis and Forecasts to 2020 observes growth with the total installed capacity augmenting from 23,900 MW in 2001 to over 121,013 MW in 2008, reflecting an annual growth rate of 26% for the 2001-08 period.

The report shows that the current financial crisis is severely affecting the growth of wind energy globally. The global wind energy industry is witnessing many cancellations of turbine orders, freezing up and sale of wind farms, and difficulties in securing financial aid for new projects.

According to the authors, the worldwide annual wind energy installations will trickle down by more than 15% in the years 2009 and 2010, as against the growth rate of 35% in the new installed capacity of 2008. This will further result in a dip in the demand for wind turbines.

Furthermore, wind farms are capital-heavy projects with significant up-front investment that can be financed only by large utilities and investment groups. The critical short-term challenge faced by most wind power developers is financing, particularly for under development projects. The economic downturn, resulting in the failure of some of the world’s largest investment banks, has led to an increase in the cost of capital for wind energy projects.

According to the report  the worldwide annual wind energy installations will trickle down by more than 15% in the years 2009 and 2010, as against the growth rate of 35% in the new installed capacity of 2008. This will further result in a dip in the demand for wind turbines.

Global Wind Energy Market Analysis and Forecasts to 2020

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