High-tech wind-energy equipment worth $3 billion will be installed across the U.S. in 2005. Wind energy facilities in 30 states currently total 6,740 MW of energy capacity from coast to coast, producing enough power for the equivalent of 1.6 million households. The industry has averaged growth rates of up to 30 percent in the U.S. and worldwide.
With this growth, however, have come some growing pains for the industry seen primarily in the form of continued opposition from utilities and from increasing aesthetic and environmental opposition to wind power projects.
The industry's growth has also been stifled by inconsistent government support. The Production Tax Credit (PTC), the federal government's primary support mechanism for wind power, has been enacted for only short periods of time and regularly allowed to expire by Congress. The inconsistent business climate has not allowed wind energy companies to make the right investments to achieve their full potential.
Despite these growing pains, the wind-power industry has continued to grow and evolve. New exhibitors at this year's conference included Siemens, which purchased Bonus Wind Energy in late 2004; and Goldman Sachs, which purchased a controlling interest in Zilkha Renewable Energy earlier this year.
The industry's annual awards banquet recognized more than 20 individuals for accomplishments ranging from the passage of the first voter-approved renewable energy standards initiative (in Colorado) to Congressional leadership on promotion of the renewal of the federal production tax credit for wind energy.
