Previous year, 2009, witnessed various wind energy records; the highly lucrative wind energy industry in New Zealand is all set to flourish in future as well.
During the year 2009, according to New Zealand Wind Energy Association, yearly generation touched 1456 Gigawatt Hours, i.e. 3.5% of the generation, and at four wind farms, a record capacity worth 171 Megawatts was established, as per the news published by
Scoop.
The year that just passed observed various new wind energy achievements, one of this is a new quarterly installment with wind rendering 4.9% of overall generation -511 Gigawatt Hours in Q4 2009. New Zealand’s wind industry is well on the course for supplying 20% of the country’s electricity.
The growth of New Zealand’s wind energy is driven by electricity prices, energy security, and environmental concerns, thereby making it a highly lucrative option as a new power generation source.
Coupled with the commitment under the Copenhagen Accord to cutting down emissions to 10-20% below the levels of 1990 and the target of 90% renewable energy, the modified Emissions Trading Scheme, places the country on track to a secure, renewable, and independent energy future. It will make New Zealand well ahead of and at a lower cost in than the USA and European Union.
According to the industry experts, wind energy is expected to be providing up to 20% of the country’s electricity within 20 years, thereby bringing along the advantages for the consumers like curbing spot prices and a long term price assurance.
It is to be noted that apart from New Zealand, other developing countries like India, China, Turkey, etc. are also enhancing their wind energy market. As these countries are rapidly developing, it would definitely not be tough to achieve the 240 GW global cumulative installations by 2010 end, according to the market research report titled “
Wind Power: Opportunities in Emerging Markets”, by
RNCOS.
According to a Research Analyst at
RNCOS, “Sustained growth in New Zealand’s wind generation will endow with much required assortment in the sources of energy exploited for generating electricity, and facilitate enhancing the security of electricity supply. Also, the rising prices of fossil fuels or expenses from carbon emission do not affect wind generation cost; the generation of wind will reduce the exposure of the price of electricity to the increasing cost linked to thermal generation. As a result, such a growth will lead to further opportunities and economic benefits.”
Related Market Research Reports:
China Wind Sector Analysis
Spain Energy Sector Outlook
China Energy Sector Analysis 
