Worldwatch Institute reports that global wind power installations climbed nearly 29% last year, with the U.S. leading the way. It now ranks first in cumulative capacity and electricity generation from wind, having surpassed Germany.
Asia accounted for almost one third of global wind capacity additions. China ranked second after the United States, with approximately 6,300 megawatts installed during 2008, doubling the nation’s cumulative wind capacity for the fourth year in a row.
India ranked third in wind capacity additions and is now fifth worldwide in capacity after the United States, Germany, Spain, and China.
The report also stated that United States Wind power accounted for 42% of new capacity in the United States, second only to natural gas for the fourth year running.
With federal cash grants for the industry, HSBC is getting more bullish on the wind industry, even with a 20% drop in installations expected this year.