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Are Oil Prices About To Bounce Back?

Are Oil Prices About To Bounce Back?

Money managers have gotten increasingly…

US Wind Industry Installed Record Number of Wind Turbines in 2012

The American Wind Energy Association (AWEA) was proud to announce that a record number of wind turbines have been installed in 2012, although how long that growth will continue depends on whether the government decide to scrap the production tax credit at the end of the year.

A report by the AWEA noted that in August the US exceeded 50,000 megawatts of installed capacity, enough to power 13 million homes.

So far in 2012 developers have added a record 4,728 megawatts of wind power capacity, 40% more than the same time last year, with another 8,430 megawatts under construction.

Denise Bode, chief executive of the AWEA, praised the production tax credits, saying that “this is what a successful policy looks like when it's working, but whether wind will continue to be a bright spot in the U.S. economy now depends on whether Congress acts to extend the production tax credit by the end of the year.”

Related Article: Rural Alaska Shows us the Way for Wind Energy Installations

Bode referred to a forecast report by Navigant Consulting when she said “it is up to Congress to bring it to a vote or else lose 37,000 jobs by the first quarter of next year.”

The states with most newly installed wind capacity during the third quarter of the year are Kansas with 473 MW, Oregon with 333 MW, Texas with 281 MW, Oklahoma with 229 MW, and Nevada with 152 MW.

By. Charles Kennedy of Oilprice.com



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