Pike Research’s analysis indicates that wind energy installation costs in the United States will total more than $125 billion between 2011 and 2017, capturing 15% of the global market during that period. Canada will reach 15 GW of total wind capacity by 217, with more than 400 MW of that amount derived from offshore installations. In Canada, installation costs will total $19.3 billion between 2011 and 2017. In the midst of this market transition, turbine manufacturer market shares are fluid, as well. In 2010, Chinese wind turbine manufacturer Sinovel overtook GE Wind Energy to become the second largest wind turbine supplier worldwide, and came in at less than 1% (350 MW) behind industry leader Vestas.
This Pike Research report provides an in-depth analysis of North American opportunities in the onshore and offshore wind power markets, as well as an examination of key challenges facing the industry. It examines technology innovations that will influence the future direction of the market, and also features detailed profiles of key industry players, including a competitive regional analysis of the major wind energy markets across their respective technology, policy, and capital environments. Market forecasts extend through 2017 and include projections for installed capacity, installation costs, and offshore production revenue, all segmented by onshore, offshore, region, and country.
Key Questions Addressed:
What is the outlook for onshore and offshore wind installations in North America over the next six years – and what are the key market drivers?
How did the global financial crisis and recession affect the North American wind energy market relative to other regions?
How do the technology, policy, and capital environments compare across North America, Asia Pacific, and Europe?
How will the Chinese turbine manufacturers’ international expansion affect the North American market for wind turbines?
Has wind energy reached grid parity?
How much does it cost to install wind turbines in Canada and the United States?
Who are the leaders in the push to larger wind turbines and where are they being deployed?
What key barriers and opportunities will shape the North American wind energy market?
How much capital will be invested in North American wind installations by 2017?
Who needs this report?
Wind turbine and component manufacturers
Wind industry service providers
Economic development agencies
Business schools
Think-tanks, non-profits, and industry associations
Government agencies and regulators
Investor community
Table of Contents
1. Executive Summary
1.1 North America Wind Energy Market Outlook
1.2 Wind Power Market Forecasts
1.3 Key Trends and Profiles of Wind Turbine Manufacturers and System Designers
2. Market Issues
2.1 Defining the Market & Macro Trends
2.2 Wind Power Growth during the Financial Crisis and Recession
2.2.1 North America
2.3 Wind Power in the Context of All Electricity Sources
2.4 Offshore Wind
2.4.1 Better Power Production Capacity Factors
2.5 Industry Growth Drivers
2.5.1 Comparing Technological Innovation: Europe Leads, North America Gains, China Joins the Race
2.5.1.1 Technological Innovation: Europe (+++)
2.5.1.2 Technological Innovation: North America (++)
2.5.1.3 Technological Innovation: Asia Pacific (+)
2.5.2 Comparing Policy Environments: China Sets Ambitious Path, Europe Adjusts, but Stays on Target, United States Scrambles as States Lead
2.5.2.1 Policy Environment: Asia Pacific (+++)
2.5.2.2 Policy Environment: Europe (++)
2.5.2.3 Policy Environment: North America (+)
2.5.3 Comparing Capital Environments: China Unfazed, Europe Slows, United States Falters
2.5.3.1 Capital Environment: Asia Pacific (+++)
2.5.3.2 Capital Environment: Europe (++)
2.5.3.3 Capital Environment: North America (+)
2.6 Increasing Demand for Energy over the Long Term
2.7 Cost of Conventional Energy Source Trends
2.7.1 North America
2.8 Carbon Emissions Reduction
2.9 Renewable Energy Targets
2.9.1 United States
2.9.2 Canada
2.10 Incentives and Subsidies
2.10.1 United States
2.10.2 Canada
2.11 Job Creation
2.12 Implementation Issues
2.12.1 Grid Integration
2.12.2 United States
2.12.3 Canada
2.12.4 High-Voltage Direct Current
2.13 Overcoming Intermittency and Institutional Barriers
2.14 Land Use Impacts
2.14.1 Less Land Use Impact than Solar
2.15 Permitting Delays
2.16 Is Wind Power Cost Competitive with Fossil Fuels?
2.16.1 Net Installation Cost of Onshore Wind Power
2.16.2 Turbine Costs
2.16.3 Balance of System Costs
2.16.4 Operations and Maintenance Costs
2.16.5 Refurbishment Costs
2.16.6 Net Cost of Offshore Wind Power
2.16.7 Financing
3. Technology Issues
3.1 Wind Turbine Basics
3.1.1 Towers
3.1.2 Nacelles and Interior Components
3.1.3 Gearboxes and Generators
3.1.4 Rotors – Blades and Hub
3.1.5 Wind Turbine Raw Materials
3.1.5.1 Rare Earth Metals
3.1.6 Types
3.1.6.1 Horizontal versus Vertical Axis
3.1.6.2 Upwind versus Downwind
3.1.6.3 Three Blades versus Two Blades
3.2 Efficiency
3.3 Reliability
3.4 Scalability
3.5 Availability
3.6 Technology Trends
3.6.1 Technology Trend: Innovation in Component Design & Reliability
3.6.2 Technology Trend: Direct Drive Gaining versus Traditional Geared Turbine
3.6.3 Technology Trend: Self-Erecting Towers & On-Site Manufacturing
3.6.4 Technology Trend: Increasing Turbine Capacities to Increase Economies of Scale
3.6.5 Technology Trend: Wind Energy Storage
3.6.6 Technology Trend: Wind Forecasting Improvements
4. Key Industry Trends and Company Profiles
4.1 Trends among Turbine Manufacturers, Component Suppliers, and Design Service Providers
4.1.1 Companies’ Global Footprint Cushions Regional Economic Troubles
4.1.2 Chinese Turbine Manufacturers Leap Ahead and Abroad Amid Criticism
4.1.3 Consolidation Leads to More Vertically Integrated Companies
4.2 Key Profiles
4.2.1 Wind Turbine Manufacturers and System Designers
4.2.1.1 ACCIONA Energia
4.2.1.2 Enercon Services Inc.
4.2.1.3 Gamesa
4.2.1.4 GE Wind Energy
4.2.1.5 Mitsubishi Heavy Industries
4.2.1.6 Nordex
4.2.1.7 Suzlon Energy
4.2.1.8 REpower Systems SE
4.2.1.9 Siemens AG
4.2.1.10 Vestas
4.2.1.11 Sinovel Wind Group
4.2.1.12 Goldwind Science & Technology Co. Ltd
4.2.1.13 Dongfang Electric Corporation Limited
4.2.1.14 American Superconductor
4.2.1.15 Clipper Windpower
4.2.1.16 Nordic Windpower
4.2.2 Turbine Component Manufacturers
4.2.2.1 Bosch Rexroth
4.2.2.2 LM Wind Power
5. Market Forecasts
5.1 Global Renewable Energy Generation Trends
5.2 Wind Energy Market Forecasts
5.2.1 North American Market Forecast
5.3 Country Forecasts
5.3.1.1 United States
5.3.1.2 Canada
6. Company Directory
7. Acronym and Abbreviation List
8. Table of Contents
9. Table of Charts and Figures
10. Scope of Study, Sources and Methodology, Notes
List of Charts and Figures
Cumulative Wind Power Generation Capacity by Region, World Markets: 2008-2017
Annual Wind Power Capacity Additions by Region, World Markets: 2008A-2010A
Cumulative Installed Wind Capacity by Country, North America: 2008-2017
New Additions of All Wind Capacity by Country, North America: 2009-2017
Total Onshore and Offshore Wind Installation Costs, North America: 2011-2017
Offshore Wind Power Production Revenues by Country, North America: 2011-2017
Cumulative Wind Power Generation Capacity by Sector, United States: 2008-2017
Cumulative Wind Power Generation Capacity by Sector, Canada: 2008-2017
Global Wind Turbine Market by Manufacturer: 2008-2010
Wind Energy Market Definition
Cumulative Installed Wind Power Capacity, United States: 2010
Cumulative Installed Wind Power Capacity, Canada: 2Q 2011
U.S. Annual Power Capacity Additions by Percentage
North American Offshore Wind Project Activity: July 2011
World Net Electricity Generation by Fuel: 2007-2035
Renewable Portfolio Standards, Goals, United States: 2011
Summary of Key Policies and Incentives in the United States and Canada
Current Online Wind-Related Manufacturing Facilities in the United States
Existing, Committed, and Potential Interconnection Lines between Jurisdictions
Existing and Planned Wind Farms, Canada: 2010-2017
Comparisons of Line Losses between AC and DC Transmission Cables
Land Conversion from Agriculture, Wind vs. Concentrated Solar Energy
Energy Projects Currently Being “Stalled, Stopped, or Killed”
Comparing the Price of Wind and Natural Gas, United States: 2003-2009
NREL Ranking of Overnight Capital Costs for Power Plants
Cost Elements of Capital Investment in New Wind Projects: Europe
Comparisons of Operations and Maintenance Costs per MWh of Generation: 2006
Types of Repairs for Onshore Wind Turbines (2.5 kW to 1.5 MW): 2008
Cost of Wind Turbine Components: 2009
Prospective Impact of Innovations in Onshore Wind Turbines on Cost/kWh
Diagram of a Typical Nacelle
Evolution of Wind Technology Prototype Designs in the United States
Cost Rationale for Offshore Wind
Global Annual Wind Turbine Market Share by Manufacturer: 2008-2010
Forecasted Energy Use by Fuel Type: 1990-2035
EIA Forecasts of Net Electricity Generation Fuels: 2007-2035
Cumulative Installed Capacity by Region and Technology: 2009
List of Tables
Comparing Technology, Policy, and Capital Environments
Offshore Wind SWOT Analysis
Comparing Technology, Policy, and Capital Environments
Wind as a Percentage of Electricity Generation, Top Countries
Cumulative Installed Wind Capacity by Country, North America: 2008-2017
New Additions of Onshore Wind Capacity by Country, North America: 2009-2017
Cumulative Offshore Wind Installed Capacity by State and Country, North America: 2008-2017
New Additions of Offshore Wind Capacity by State and Country, North America: 2009-2017
Growth in Cumulative Installed Wind Capacity by Country, North America: 2008-2017
New Additions of All Wind Capacity by Country, North America: 2009-2017
Estimated Onshore Wind Energy Production by Country, North America: 2008-2017
Offshore Wind Power Production Revenues by State and Country, North America: 2011-2017
Average Onshore Wind Turbine Price per Kilowatt by Country, North America: 2008-2017
Annual Onshore Wind Turbine Investments by Country, North America: 2009-2017
Annual Onshore and Offshore Wind Installation Costs by Country, North America: 2010-2017
Annual Onshore Wind Installation Costs by Country, North America: 2010-2017
Annual Offshore Wind Installation Costs by State and Country, North America: 2010-2017
Global Annual Wind Turbine Market Share by Manufacturer: 2008-2010
12 Largest Wind Farms in Operation Today
Top 15 Largest Wind Turbines, Commercially Available or Under Research and Development: 2011
Major Wind Turbine Company Merger & Acquisition Activity: 2009-2011
