Wind power leads green energy push

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US wind power capacity jumped by 50 per cent in 2008 alone, taking it past Germany as the leading wind energy producer. The US expansion took wind capacity to 25 gigawatts ahead of Germany’s 24 GW with Spain third with nearly 17 GW. China is fourth after a 100 per cent increase last year, according to figures from the Global Wind Energy Council.

Worldwide, clean energy investments were $155 billion last year but need to reach $515 billion a year to reduce greenhouse gas emissions to safe levels, according to a report by New Energy Finance and the World Economic Forum, which met in Davos, Switzerland last week.

Onshore and offshore wind, photovoltaic and thermal solar energy, municipal waste-to-energy, sugar-based ethanol, cellulosic and other second-generation biofuels and geothermal power are the most promising areas for green energy expansion, the report said. Spain’s wind power industry says steady growth should continue this year despite the global recession and international finance woes.

The jump in wind power turbines coming on line in the US last year saw the renewable energy provide 42 per cent of the new power capacity added. With new President Obama’s economic stimulus plans including the renewable energy sector, the US is expected to continue this performance in 2009 and beyond. The Senate Finance Committee has already approved more than $30 billion in tax breaks and incentives for renewable energy providers.

This will help US to also move ahead of Germany in solar power capacity, according to one energy analyst, Reuters reports.