With the global economy still searching for its path to recovery, 2010 looks to be a very tough year for the U.S. wind industry.
Many within the industry are expecting between a 40%-50% drop in installations this year. If this is the case it will be the first time since 2004 that wind installations will have dropped from the previous year.
It appears the wind industry is finally starting to show weaknesses generated by shifting market conditions such as the potential of a deepening recession, a drop in oil and natural gas prices, and the lack of a national renewable energy standard.
Couple that with increased competition from wind turbine manufacturers in China and energy transmission problems, and you have a recipe for an extremely tough year.
Matt Kaplan, a senior analyst with IHS Emerging Energy Research (NYSE:IHS) said, "It's not easy out there -- a lot of developers are pulling back on projects. The industry is going through some pain."
Nevertheless, industry executives and analysts remain very excited about the long-term future of the wind industry, saying the squeeze may be felt now, but once the economy begins to recover, the market will inevitably pick up.
Read the full story at Renewable Energy World: Our Take from WindPower: 2010 Will be Tough for Wind
Learn more about Wind Power on eBoom's Wind Energy Learning Page.
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