A record 20,000 megawatts (MW) of wind power were installed worldwide in 2007, with the United States, Spain and China providing the biggest annual increases, bringing world-wide installed capacity to 94,112 MW. GWEC Secretary General Steve Sawyer commented, The growth rates we are experiencing in wind energy continue to exceed our most optimistic expectations.
AWEA Executive Director Randall Swisher stated, This is the third consecutive year of record-setting growth, establishing wind power as one of the largest sources of new electricity supply for the country. This remarkable and accelerating growth is driven by strong demand, favourable economics, and a period of welcome relief from the on-again, off-again, boom-and-bust, cycle of the federal production tax credit (PTC) for wind power.
With the demand for renewable sources of energy continuing to accelerate, the wind power industry has an optimistic future ahead as governments around the world encourage alternative energy production. Axial Vector has applied their expertise in developing multi-fuel engines and generators to offer cutting-edge generators to existing wind projects. The retrofit cost effectively enables each turbine to generate substantially more power without adding more towers or turbines.
Constellation Capital Senior Advisor William Jeffrey Gilliam said this regarding the Axial Vector solution, Installing an AVEC retrofit generator will provide the flexibility of efficiently generating power in both low and high wind conditions. Needless to say, more efficient operation in low wind conditions can and will result in significant increases in wind power sales at retrofitted facilities. We believe that the near term retrofit opportunities are significant in number as well as in the overall improvement that each project can expect to achieve from an AVEC generator solution.
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