Wind Power Development: Opportunities and Challenges
Gerrit van Kooten and
Govinda R. Timilsina
No 45665, Working Papers from University of Victoria, Resource Economics and Policy
In this study, the prospects of wind power at the global level are reviewed. Existing studies indicate that the earth’s wind energy supply potential significantly exceeds global energy demand. Yet, only 1% of the global electricity demand is currently derived from wind power despite 40% annual growth in wind generating capacity over the last 25 years. More than 98% of total current wind power capacity is installed in the developed countries plus China and India. Existing studies estimate that wind power could supply 7% to 34% of global electricity needs by 2050. Wind power faces a large number of technical, financial, institutional, market and other barriers. To overcome these, many countries have employed various policy instruments, including capital subsidies, tax incentives, tradable energy certificates, feed-in tariffs, grid access guarantees and mandatory standards. Besides these policies, climate change mitigation initiatives resulting from the Kyoto Protocol (e.g., CO2-emission reduction targets in developed, the Clean Development Mechanism in developing countries) have played a pivotal role in promoting wind power.
Keywords: Resource; /Energy; Economics; and; Policy (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
Working Paper: Wind Power Development: Opportunities and Challenges (2008)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:ags:uvicwp:45665
Access Statistics for this paper
More papers in Working Papers from University of Victoria, Resource Economics and Policy
Bibliographic data for series maintained by AgEcon Search ().