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DOE Announces Nearly $14 Million to go to 28 New Wind Energy Projects

July 16, 2009

New DOE Study Shows U.S. Leads the World in Wind Energy Capacity

WASHINGTON, DC - July 16, 2009 — U.S. Department of Energy Secretary Steven Chu today announced the selection of 28 new wind energy projects for up to $13.8 million in funding – including $12.8 million in Recovery Act funds. These projects will help address market and deployment challenges including wind turbine research and testing and transmission analysis, planning, assessments. Along with the new awards, Secretary Chu announced the release of DOE’s 2008 Wind Technologies Market Report, detailing $16 billion in investment in wind projects made in the U.S. in 2008 – making the U.S. the leader in annual wind energy capacity growth, as well as cumulative wind energy capacity.

“American families and businesses are struggling in a recession and an increasingly competitive global economy. The Recovery Act was designed to rescue the economy from the immediate dangers it faces while rebuilding its fundamentals, with an eye toward new industry and opportunity,” Secretary Chu said. “To help meet these challenges, the Recovery Act invests significant dollars to put people to work to spur a revolution in clean energy technologies.”

“Wind energy will be a critical factor in achieving the President’s goals for clean energy, while supporting news jobs,” said Secretary Chu. “While the United States leads the world in wind energy capacity, we have to continue to support research and development as we expand renewable energy deployment.”

DOE’s new report, a comprehensive overview of developments in the U.S. wind power market released today, found that wind power capacity increased by 8,558 megawatts (MW) in 2008. This $16 billion investment in wind projects made the U.S. the fastest-growing wind power market in the world for the fourth consecutive year. Wind power contributed 42% of all new U.S. electric generating capacity in 2008; for the fourth consecutive year, wind power was the second-largest new resource added to the U.S. electrical grid in nameplate capacity.

The report, which has been issued annually since 2007, analyzes a range of developments in the wind market, including trends in wind project installations, turbine size, turbine prices, wind project costs, project performance, and wind power prices.

The report also details trends in project financing, a key concern for the wind industry in the current economic climate, as well as trends in project ownership, public policy, and the integration of wind power into the electrical grid. DOE’s report provides the wind industry, state and local policy makers, and the general public with valuable information on the state of wind power in the United States.

http://www.realestaterama.com/2009/07/16/doe-announces-nearly-14-million-to-go-to-28-new-wind-energy-projects-ID05715.html