Wind turbine manufacturers say U.S. market will grow in time

The wind energy market in the U.S. will stay alive with or without an extension of the Production Tax Credit (PTC), say executives from eight of the largest wind turbine manufacturers with a U.S. presence. During a June 6 session focused on large wind turbines during WindPower 2012, executives from Gamesa, GE (NYSE: GE), Goldwind, Mitsubishi Power Systems, Nordex, Siemens (NYSE: SI), Suzlon and Vestas expressed that they view the U.S. wind market as a strong one.

The U.S., currently the No. 2 wind market in the world, installed 6,810 MW in 2011. This year is expected to be a record-breaking year for installations, as the expiration of the PTC requires developers to complete projects by year end. All eight executives agreed that 2012 will likely see anywhere from 9 to 12 GW of wind power installations.

Beyond 2012, the market is likely to slow, but the panelists said that won’t keep their companies from staying in the U.S.

The wind energy market could be down 80 percent next year, said Duncan Koerbel, interim CEO of Suzlon. “But Suzlon is in this for the longest of the long hauls. If you’re going to be in wind, you have to be in North America.”

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