The global wind industry installed 20 percent fewer wind power projects in 2013 than in 2012, according to a report from Navigant Research/BTM Consult.
Worldwide, wind installations topped 36.13 GW, down 20 percent from 2012 installations. New U.S. wind installations declined by 93 percent last year, the report said, which helped drag down global growth. China is the world’s largest market in terms of capacity additions, with 16.1 GW of new wind installed last year. More than 250-GW of wind capacity is expected to be added worldwide in the next five years, f which 10.4 percent will be offshore.
“The market decline in 2013 was not unexpected,” said Feng Zhao, research director with Navigant Research. “The aftermath of the 2008 financial crisis still continues to weigh heavily – particularly on some of the European markets that underpin the industry. The U.S. market decline, triggered by lack of policy consistency and the delay in renewing the tax credits which have traditionally stimulated investment, was also a major contributing factor for the wind market depression last year.”
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