Surging imports from Russia and the U.S. mean the premium Europeans pay for diesel will stay down this summer after plunging to the lowest level for the time of year since 2003.
Asia’s wind power installed capacity is expected to surpass Europe’s for the first time next year, Steve Sawyer, secretary general of the Global Wind Energy Council, said at a forum in Beijing today.
Brazil may become the world’s fourth largest installer of wind farms in 2012, up from 11th last year, as some developed nations cut subsidies for renewable energy.
Wind-power installations will climb to a record this year, driven by resurgent U.S. demand and growth in developing nations from Brazil to China, the Global Wind Energy Council predicted.
The global wind power market rose 6 percent to 41 gigawatts last year, led by China, which captured more than two-fifths of the total, the Global Wind Energy Council said today in a report.
The U.S. oil boom has put European refineries out of business and undercut West African crude suppliers. Now domestic drillers threaten to roil Asian markets and challenge producers in the Middle East and South America.
Installed power capacity from wind turbines around the world will probably rival the potential generation of electricity from nuclear plants within four years, the Global Wind Energy Council said.
Renewable energy is surpassing fossil fuels for the first time in new power-plant investments, shaking off setbacks from the financial crisis and an impasse at the United Nations global warming talks.
"Limiting it to condensates is a bit of a win-win for everybody."
- Steve Sawyer on Jun 26, 2014