U.S. Wind Energy Installations Surge: A New Turbine Rises Every 2.4 Hours
By Phil McKenna for Inside Climate News - The significant increase this past quarter, when 908 new utility-scale turbines came online, is largely a result of the first wave of projects under the renewable energy tax credits that were extended by Congress in 2015, as well as some overflow from the prior round of tax credits. The tax credits' gradual phase-out over a period of five years incentivized developers to begin construction in 2016, and those projects are now beginning to come online. A recent AWEA-funded report projects continued steady growth for the wind energy industry through 2020. Energy analysts, however, say that growth could slow after 2020 as the federal Production Tax Credit (PTC) expires. "We are in a PTC bubble now between 2017 and 2020," said Alex Morgan, a wind energy analyst with Bloomberg New Energy Finance, which recently forecast wind energy developments in the U.S. through 2030. "Our build is really front-loaded in those first four years. We expect that wind drops off in early 2020s to mid-2020s, and then we expect it to come back up in the late 2020s.