Market Overview

Offshore Wind Capacity Estimated At 4000 GW

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The offshore wind industry in the United States is getting a boost today as the The U.S. Department of Energy's National Renewable Energy Lab (NREL) has recently released a report estimating the nation's off shore wind energy potential at nearly 4,150 gigawatts. The study inspected offshore areas within 50 miles off the United States coasts where average wind speeds are approximately 16 miles per hour at a height of 295 feet. The boost to the industry stems from improvements over an early report. In 2008, the NREL estimated the total U.S. wind capacity at only 1,010 gigawatts. Taking into account new technologies and the potential more offshore wind power, the NREL boosted the estimated potential.

While wind energy remains contingent on generous subsidies, with the market currently floundering and more capacity available, investors may want to add wind to their portfolios. The easiest ways still are through the PowerShares Global Wind Energy (NASDAQ: PWND) and First Trust Global Wind Energy (NYSE: FAN).

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