Wind power is one of the fastest-growing sources of energy in the world. The wind-power industry creates new jobs, offsets emissions from fossil fuel-fired power plants and enhances security of electricity supply. It also generates billions of dollars in revenue every year.
Wind power capacity increased more than any other renewable-energy technology in 2012, with an estimated 50,000 MW. China is the global leader in wind power capacity with 75,300 MW, followed by the United States, Germany, Spain, and India.
Canada has begun to develop some of its tremendous wind energy potential, primarily in Ontario. There are now 6,200 MW of wind energy installed, ninth-most in the world.
If all provinces and territories were to implement strong policies to ensure the wide manufacture and installation of wind turbines, it would be possible to develop at least 30,000 MW of wind power in Canada in the near future.
Wind energy has become a multi-billion-dollar industry worldwide. In 2012, total investment in the sector exceeded $80 billion. The industry has created 670,000 jobs worldwide.
Once considered prohibitively expensive, wind power has dropped in cost during the past two decades because of economies of scale, larger turbines and more experience with building, installing and operating wind turbines effectively.