Energy from Wind and Waves: The Global Market
- The global market for wind and wave energy generated 119,343 megawatts of electricity in 2008. This is expected to increase to $223,091 megawatts in 2013, for a compound annual growth rate (CAGR) of 13.3%.
- Wind energy has the largest share of the market, generating 119,339 megawatts in 2008. This should reach 223,221 megawatts in 2013, for a CAGR of 13.3%.
- Wave energy generated 4 megawatts in 2008. This is expected to increase at a CAGR of 98.1% to reach 122 megawatts in 2013.
STUDY GOALS AND OBJECTIVES
BCC’s goal in conducting this study was to determine the current status of the global market for wind and wave energy and assess its growth potential over a 5-year period from 2008 to 2013.
Our key objective was to present a comprehensive analysis of the current wind energy market combined with the upcoming wave energy market and understand their future direction.
A chief goal of this study was to characterize and quantify the world markets for large wind turbines on global, national, and local bases. Extensive efforts were expended to fully characterize the political, economic, environmental, and regulatory conditions at each level of geographic detail. These influential factors were taken into account when developing 5-year forecasts for the evolving large wind turbine markets. The business environment for wind and wave energy is fully characterized to include local and national legislation and financial incentives, the pertinent regulatory regimes, and the environmental factors that are influencing a sustaining surge in interest and investment in renewables.
- North America
- Latin America
- Africa and the Middle East
- Pacific Region
- Rest of World
Traditional hydrocarbon energy sources and tidal energy are excludedfrom the study. BCC analyzes each market, determines its current status, examines the impact for the future, and presents forecasts of growth over the next 5 years. Technological issues including the latest trends are discussed. Other influential factors such as rising energy costs, changing government regulations, and improving efficiencies are reviewed.
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