NEW YORK, NY – Harnessing America’s renewable energy sources is a priority on President-elect Barack Obama’s political agenda, and American businesses and consumers are poised to follow his lead to make the U.S. a greener, more energy responsible nation. During a campaign speech, Obama declared his intentions to wean American off its dependence on Middle Eastern oil by investing $15 billion a year in renewable energy to create 5 million new energy jobs over the next decade.

Market research publisher SBI expects Obama’s commitment to long-term U.S. economic recovery will advance the development of alternative energies as a key factor. This will drive the already steadily strengthening wind energy market in 2009 and beyond.

The U.S. wind industry expanded rapidly in 2008, and in the all-new report "Wind Power in the U.S. and the World," SBI estimates that the total wind energy market in the U.S. was valued at $151 billion. By 2013, SBI projects that the total U.S. market value for wind energy will reach an estimated $180 billion, representing a compounded annual growth rate of 3% for the five-year period starting in 2009.

"With oil prices and fossil fuel prices creeping higher again, and with federal support of alternative energy expansion programs, wind power is picking up momentum. But the market value of wind energy likely won’t appreciate to the full potential we expect until early 2012 when the U.S. can fully reap the rewards from today’s investments in wind farm developments nationwide," says Shelley Carr, associate publisher for SBI.

"Wind Power in the U.S. and the World" identifies key dynamics and economic and market trends driving the wind power industry, and profiles major market players, outlining their strategies to maximize growth and profitability. The report also covers shipments, imports and exports, and provides historical data for 2002 through 2008, and forecast data from 2009 to 2013. For further information visit: http://www.sbireports.com/Wind-Power-1836588/.

About SBI

SBI (Specialists in Business Information) publishes research reports in the industrial, energy, building/construction, automotive/transportation and packaging markets. SBI also offers a full range of custom research services. For more information visit http://www.sbireports.com , or contact Jenn Tekin at (240) 747-3015 or jtekin@marketresearch.com.

© MarketWire 2009
URL: http://www.msnbc.msn.com/id/28576533/  

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