Wind: A leading source of new electricity generation

Wind power is now one of the country’s largest sourcesof new power generation of any kind In 2008, with over 8,500 megawatts (MW) installed, wind powerprovided 42% of all the new generating capacity added in theU.S., according to initial estimates, up from less than 2% of newcapacity added in 2004 (see chart below). The fact that windpower is now mainstream is good news for our economy, ourenvironment, and our energy security. An economic and job dynamo for the 21st century The new wind projects installed in 2008 represent an investmentof $17 billion – the largest capital investment in the U.S. electricitysector that year. Hundreds of billions of dollars in investment – inwind project installations, wind turbine component manufacturingfacilities, and transmission infrastructure to bring the new electricityto market – are poised to flow into the economy as wind powerproduction ramps up.Wind power is also a job creation dynamo, creating 35,000 jobsin 2008 alone despite the economic downturn and providinga broad range of business and employment opportunities indifferent regions of the country. About 85,000 people worked inthe wind energy industry as of the end of December 2008, up from50,000 in 2007. Many of those new jobs are in manufacturing. Protecting our environment Wind power is a powerful climate change solution, ready todeliver emissions reductions that are (a) large in scale, (b)effective immediately, and (c) affordable. A 2008 report bythe U.S. Department of Energy (DOE) found that wind energycould generate 20% of the nation’s electricity – what nuclearpower generates today – by 2030 – nor is that a ceiling. Rapiddeployment is urgently needed from an environmental point ofview alone: the power generation sector is the largest contributorof CO2 emissions in the U.S. economy, accounting for close to40% of U.S. emissions each year. As concerns about climatechange become more urgent, wind power is an excellent optionfor rapidly and cost-effectively reducing emissions. Strengthening our energy security Wind is a domestic, inexhaustible source of energy, and is freefrom fuel price volatility. U.S. wind resources are also vast enoughto supply the electricity needs of the entire country several timesover, according to DOE. This domestic and infinite source ofenergy can be used not only for conventional power generation,but also for plug-in hybrids or electric vehicles, helping reducedependence on a variety of fuel imports and conserve strategicnational supplies. Key: long-term federal policy commitment Wind power now needs a large U.S.-wide market in which to grow andprovide these benefits. With the right policies to sustain renewableenergy’s momentum – including a national renewable electricitystandard to create a stable market for capital investment, an interstatenetwork of transmission lines or “green power superhighways” tobring renewable energy to market, and strong climate legislationwith early and aggressive emissions reductions targets – the U.S.wind energy industry is ready to deliver on President Obama’s callto double production in three years and on track to generate 20% ofelectricity and more, leveraging billions in investment and creatingtens of thousands of jobs.

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