February 15, 2007 01:14 PM Eastern Time
Wind Energy is the World's Fastest Growing Energy Source
DUBLIN, Ireland--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/reports/c50505) has announced the addition of Global Wind Power Market Potential to their offering.
Wind is simple air in motion. It is caused by the uneven heating of the earth’s surface by the sun. Since the earth’s surface is made of very different types of land and water, it absorbs the sun’s heat at different rates. Today, wind energy is mainly used to generate electricity. Wind energy is also world's fastest growing energy source and is a clean and renewable source that has been in use for centuries in Europe and more recently in the United States and other nations. Wind turbines, both large and small, produce electricity for utilities and homeowners and remote villages.
Wind energy is a clean energy source as electricity generated by wind turbines does not pollute the air or emit pollutants like other energy sources. This means less smog, less acid rain and fewer greenhouse gas emissions. Every 10,000 MW of wind installed can reduce CO2 emissions by approximately 33 MMT annually if it replaces coal-fired generating capacity, or 21 MMT if it replaces generation from average fuel mix.
Many developing countries have little incentive to use wind energy technologies to reduce their emissions, despite the fact that the most rapid growth in CO2 emissions is in the developing world. Two related activities could give both developed and developing countries incentives to develop wind projects. The first is joint implementation, a program under which firms from the developed countries can earn carbon offsets by building clean energy projects in the developing world. Developed nations should endorse and push for joint implementation to move from its current status to full-scale implementation.
The second activity is the World Bank's Global Environmental Facility (GEF), which can cover the incremental cost of developing environmentally benign or beneficial projects in the developing world, such as building a wind project instead of an apparently cheaper coal project. This incentive is particularly important for countries such as China and India, which have tremendous power needs and must build energy capacity quickly at the lowest possible cost.
This report examines global wind power market potential.
