The Economist last week reported some sobering statistics related to the continuing news about a slowdown in wind energy development, detailing how America’s leap ahead of Germany in wind energy investments is losing steam.
T. Boone Pickens’ retreat from a wind farm in Texas has been widely reported, but the piece adds a broader view.
The credit crunch is hampering customers’ abilities to get financing to complete their orders, so while 2008 was a record investment year, 2009 is paling in comparison, the weekly reported.
Last year, for example, generating capacity surged by 50 percent. This year, the American Wind Energy Association forecasts growth of only 20 percent. Another way to look at the fall-off: Although 2,800 MW of new capacity was installed in the first quarter of 2009, only 1,200 MW was installed in the second quarter.