Wind Power Development: Opportunities and Challenges
Gerrit van Kooten and
Govinda Timilsina ()
No 2008-13, Working Papers from University of Victoria, Department of Economics, Resource Economics and Policy Analysis Research Group
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: wind energy; renewable energy; electricity grids (search for similar items in EconPapers)
JEL-codes: Q25 Q32 Q42 Q48 (search for similar items in EconPapers)
Pages: 53 pages
New Economics Papers: this item is included in nep-cwa, nep-ene and nep-env
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Working Paper: Wind Power Development: Opportunities and Challenges (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:rep:wpaper:2008-13
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