Growing concerns over climate change, energy security, rising fossil fuel costs and ongoing regulatory and political support has stimulated the renewable energy sector. Europe and the US currently import the majority of their primary energy and the level of imports is project to continue to increase. Given the depletion of fossil fuels resources, and the ongoing concerns over supply security (as increasing reliance is placed on resources from politically unstable regions), teh energy sector needs to seize the opportunity created by the decommissioning of large aging conventional electricity plants to secure supply based on renewable sources of energy.
In March 2007, European Heads of State officially agreed a binding target of 20% of energy needs to come from renewable sources by 2020. Wind generation is expected to be a significant contributor to meeting this target. In the US, a number of states have put in place targets in the form of Renewable Portfolio Standards. To achieve these targets, national and state governments are implementing local incentives to support renewable electricity production.
