X

Sign Up To Our Free Newsletter

Join Now

Thanks for subscribing to our free newsletter!

ERROR

  • 3 minutes Texas forced to have rolling brown outs. Not from downed power line , but because the wind energy turbines are frozen.
  • 7 minutes Scientists Warn That Filling The Sahara With Solar Panels Is A Bad Idea
  • 11 minutes United States LNG Exports Reach Third Place
  • 15 minutes Joe Biden's Presidency
  • 5 hours Retired RAF pilot wins legal challenge over a wind farm
  • 6 hours U.S. Presidential Elections Status - Electoral Votes
  • 12 hours Speaker Pelosi, "Tear Down This Wall"
  • 1 hour Interest article about windmills and waterwheels in Europe
  • 23 hours NYT:  The Supreme Court’s order (Re:  Trump’s tax returns) set in motion a series of events that could lead to the startling possibility of a criminal trial of a former U.S. president
  • 2 hours Chance for (Saudi)Arabian peninsula having giant onshore Gas too?
  • 18 hours Disaster looming in UK offshore wind power
  • 1 day Wednesday Nikki Haley reached out to Trump for meeting at Mar-a-lago. Trump said No ! You blew it Nikki . . .
  • 1 day “Cushing Oil Inventories Are Soaring Again” By Tsvetana Paraskova
  • 2 days Minerals, Mining and Industrial Ecology
  • 1 day Scientist clone endangered Black Footed Ferret from Ferret that died 30 years ago . It's a 100% exact genomic match.
  • 1 day Pipeline vs Train vs Ship to Transport Crude Oil.
  • 1 day NG spot prices hit triple digits for weekend delivery
Warren Buffett’s Secret For Super Cheap Energy

Warren Buffett’s Secret For Super Cheap Energy

Warren Buffett’s wind turbines have…

Offshore Oil Could Soon Be Powered By Wind

Offshore Oil Could Soon Be Powered By Wind

Norwegian oil major Equinor recently…

Daniel J. Graeber

Daniel J. Graeber

Daniel Graeber is a writer and political analyst based in Michigan. His work on matters related to the geopolitical aspects of the global energy sector,…

More Info

Premium Content

Private Sector Driving U.S. Wind Market Forward

The onshore wind energy sector is booming in the United States, where there's enough of the renewable resource on hand to meet the annual demands for 15 million homes.  It may take one of the biggest retailers in the world, however, to usher in the necessary change in energy consumption.

The American Wind Energy Association said wind energy in the United States accounted for more than 4 percent of all the electricity generated in the country last year and the trend was on pace to continue.  America, the AWEA said, is increasingly powered by wind.

Now Swedish home-furnishing company IKEA says it's embracing the green energy fad with the purchase of a 98 megawatt wind farm in Illinois, its largest single renewable energy investment to date.  The world's largest furniture chain reported a 2013 profit of $4.5 billion, a 3.1 percent increase from 2012, and Rob Olson, the company's chief financial officer, said investing in renewable energy made good business sense.

Related Article: Hydropower increasingly important in Scotland

"We invest in our own renewable energy sources so that we can control our exposure to fluctuating electricity costs," he said.

IKEA says the Hoopeston Wind facility outside of Chicago will provide 165 percent of the electricity needed for its entire U.S. retail and distribution footprint and offset carbon dioxide emissions equivalent to pulling 55,000 cars off the road.

AWEA said wind energy accounted for well over half of the new energy capacity brought online in the U.S. Midwest between 2011 and 2013. The U.S. Energy Information Administration puts the Midwest among the top in terms of wind energy potential and Illinois alone saw a 15.6 percent increase in wind energy from January 2013 to January 2014.

A report from the Intergovernmental Panel on Climate Change warns the continued use of fossil fuels is a key contributor to the emissions blamed for downward environmental trends. If policymakers are serious about curbing greenhouse gas emissions, IPCC said wind power capacity could meet 20 percent of the global electricity demand by 2050.

Related Article: French Utility Reports $13Billion Loss over Solar, Wind Subsidies

For the United States, 12 states combined to account for 80 percent of the wind-generated electricity last year and it was the oil-rich state of Texas that led the nation with nearly 36 million megawatthours of electricity generated from wind.

While the United States is behind in terms of offshore wind capacity, private sector interest onshore like IKEA's may help drive the sector forward. IPCC said more than $50 billion was invested globally in wind power in 2009, though it still accounts for only a small fraction of the global electricity supply. IPCC warned a business-as-usual approach to energy may leave the global environment in ruins. The wind energy market is expanding rapidly. For IPCC, with the right policies in place, the global potential for wind energy exceeds current global electricity production. For companies like IKEA, it's a business decision, but it may be one that drives the sector forward.

By Daniel J. Graeber of Oilprice.com


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News