Top 10 US wind turbine spenders

Speaking of wind energy, there have been so many global investment news lately in this area which I’ll cite some examples in another post.

For now here are the top ten state spenders on wind turbine technology, as reported by consulting firm BCC Research. The report also estimated the state’s forecast expenditures for wind turbine components and systems by 2013.

Wind Turbine system expenditures (US$Million)
State 2006 2007 2008 2,013
Texas 928.4 2,426.5 2,982.6 15,150
Washington 513.7 517.7 252.4 2,190
California 254.4 94.5 676.0 17,100
New York 221.8 81.8 1,272.0 2,790
Minnesota 180.6 607.0 142.8 2,790
Oregon 120.6 670.9 444.6 1,590
Kansas 120.6 0.0 1,097.6 2,790
Iowa 119.5 512.6 1,304.6 3,120
Colorado 72.0 1,164.1 0.0 3,690
Illinois 0.0 888.4 226.6 3,090
Others 364.4 903.6 2,766.4 6,600
Total 2,896.0 7,867.1 11,165.6 60,900

According to BCC, the domestic US market for wind turbine components and systems will reach $60.9 billion in 2013 from the 2007 market of $7.9 billion and the estimated 2008 market value of $11.2 billion. The compound annual growth rate (CAGR) between 2008 and 2013 is expected to be 40.0%, the report said.

“Worldwide electrical demand is unprecedented, the economics of wind energy are becoming more attractive and the technical obstacles including transmission and storage are being worked on aggressively,” said Ben Spitz, CEO of Hillpoint Energy, and writer of the report.

“The results of greater penetration of wind powered electrical generation will be lower electrical costs, especially after the capital investments have been recouped, as well as significantly lower environmental impact as compared to other electrical generation technologies.”

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