Stocks set to lift if wind energy demand picks up

Falling prices, growing adoption and newer technologies are expected to continue to fan the sector's growth.

Vikram Barhat 14 July, 2016 | 5:00PM

It may not possess the lustre of technology or provoke intense media focus quite like crude oil, but as an industry, wind energy is quietly making waves and progress within the renewable universe.

 Google (GOOG) bought 236 megawatts from wind farms in Norway and Sweden to power its European operations. An International Renewable Energy Agency (IRENA) report claimed a potential 59% drop in wind energy cost in the next decade. And legendary investor Warren Buffett's wind energy firm placed one of the largest onshore wind turbine orders in the world. All of these developments happened in the last two weeks of June.

The U.S. Department of Energy's Wind Vision report states the United States may be able to meet 10% of its electricity demand through wind power by 2020, 20% by 2030 and 35% by 2050. Another report from the International Energy Agency (IEA) forecasts that wind could be generating 18% of the world's electricity by 2050, compared with 2% today. Of the US$286 billion invested in renewable energy in 2015, wind accounted for a staggering US$107 billion, a 9% annual growth, noted a UN study. Wind, claims the Global Wind Energy Council, is now the most installed form of low-carbon power generation.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
Alphabet Inc Class C1,439.22 USD0.52
Enbridge Inc45.08 CAD0.76
General Electric Co7.05 USD4.29
NextEra Energy Inc256.60 USD0.37
Siemens AG ADR57.10 USD1.49

About Author

Vikram Barhat

Vikram Barhat  Vikram Barhat is a freelance writer.

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