As people are beginning to realize fossil fuels won’t continue to power our lives forever, a concerted attempt is being made to update the United States’ wind energy programs and wind related exchange traded funds (ETFs) could begin to feel some tailwind.
The American Wind Energy Association (AWEA) recently issued a “B” rating for the United States’ progress toward making 20% of the country’s electricity supply from wind energy by 2030, according to Power Engineering. However, the country received a “C-” for electricity transmission. Other areas graded include an “A-” for technology, “B+” for manufacturing and “B” for siting.
The AWEA expects wind farm development to slow down this year and cited some policy moves that would beneficial to this sector, which include a renewable electricity standard and energy legislation that cover transmission.
In Texas, Billionaire investor T. Boone Pickens says he will be delaying a $10 billion “Pampa” wind energy project till 2013 when Texas completes a $4.9 billion transmission line, as stated in Houston Chronicle. Once the grid is improved, wind and solar power may replace electricity generated from gas and coal.
Picken’s Mesa Power LLP previously ordered 667 wind turbines, which produce up to 1,000 megawatts, and starting in the first quarter of 2011, the turbines may be either installed or thrown out.