American Clean Power released their Q2 market report for 2022 at the end of July.
Key takeaways from the ACP market report include:
- North America experienced its largest drop in installations in a six-month period since 2018 this quarter. 25% less clean power projects were installed compered to Q2 the year before
- 40,656 MW of clean power projects are under construction and 88,233 MW are in advanced development
- The clean power pipeline is growing at a slower rate than anticipated. In 2021, the pipeline had a quarterly growth rate of 12%. This quarter, it has only grown by 3%
- New capacity entering the pipeline dropped 7% since last quarter
- During the second quarter, five land-based wind projects were installed with a total capacity of 620 MW
- Compared to the second quarter of 2021, installations were down 78%. This is partially due to supply chain-induced project delays and delays in grid interconnections.
- The average size of wind project phases installed in the first half of 2022 was 520 MW, up significantly from an average size of 312 MW in 2021, and 255 MW in 2020. Traverse Wind, which came online last quarter and has a capacity of over 997 MW, drives up this average.
- The largest wind project to start commercial operation this quarter was the 201 MW Golden Hills project in Oregon, owned and developed by Avangrid. The project is powered by Vestas and GE Renewable Energy turbines.
Many drops in project installations in Q2 are due to policy and supply chain challenges. According to ACP, more than 8 GW of clean energy capacity that was expected to come online this quarter has been delayed through 2026. Since the end of 2021, more than 32 GW of capacity has been delayed and has not yet achieved commercial operation.
Meeting North American clean energy goals does not have to rely entirely on installing new projects. Though it does sound like the most obvious way to bring us to 70-80% energy produced by clean sourced by 2050. In the meantime, while policy and supply chain challenges continue to be an issue, owners, operators, asset managers and other clean power stakeholders will need to consider getting the most energy potential out of their existing assets.
At a US wind farm, we found 18% of the wind turbines examined per site exhibiting fixable issues. This negatively impacted the wind site performance. After fixing these underperformance issues at the wind farm, the plant was able to gain over $200,000 back in lost revenue in less than 6 months.
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To date, WindESCo has provided recommendations to correct static yaw misalignment and other issues on several GWs of wind capacity, allowing wind energy stakeholders to recover what would otherwise be lost annual energy production and revenue.
Interested in increasing the wind energy production for your existing wind site? Contact us to recover your losses.