SBI Energy Sees 2,600% Growth in Offshore Wind Power by 2012
As the first ever U.S. offshore wind farm goes into construction off of Cape Cod later this year, it will spark the beginning of a growing sector of the energy market. Research firm SBI Energy has predicted that by 2012 we could see as much as a 2,600% in offshore wind power. The data was compiled and released in a report titled “Offshore Wind Farm Manufacturing Worldwide“.
Most of the growth will be from government backed initiatives and also are a result of decreasing costs to setup such farms. In the next fives years the total MW output will grow from the current 3,000 to a staggering 79,700. It is also estimated that the market could be worth nearly $62 billion by that time as well. As a note, the report itself costs $4,800 to purchase so we’re hoping that the money is well spent and their predictions are accurate.
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