Wind power could be the next hot energy source according to the Department of Energy’s (DOE) recently released report.
The DOE said wind can provide as much as 20% of US electricity needs by 2030. In that scenario, installations of new wind power capacity would increase to more than 16,000 megawatts per year by 2018, and continue at that rate through 2030.
“The U.S. wind energy industry invested approximately $9 billion in new generating capacity in 2007, and has experienced a 30 percent annual growth rate in the last 5 years.”
The best part of investing in wind energy is the inexhaustible raw material source and low cost of integrating into the current electric grid. The bad news is that transmission challenges need to be addressed, the DOE said, as well as improving the current wind systems’ reliability and operability.