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EIA Forecasts Continued Increase in U.S. Natural Gas Exports

LCG, August 10, 2017--The U.S. Energy Information Administration (EIA) released earlier this week its Short-Term Energy Outlook that forecasts the nation will export more natural gas than it imports in 2017 and throughout 2018. Furthermore, the EIA projects the U.S. will continue to be a net exporter beyond 2018 because of growing U.S. natural gas exports to Mexico, declining pipeline imports from Canada, and increasing exports of liquefied natural gas (LNG).

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New Legislation Proposed in U.S. Senate for Offshore Wind ITC

LCG, August 4, 2017--New legislation was introduced in the U.S. Senate to create an investment offshore wind tax credit of 30 percent for the first 3,000 MW of offshore wind facilities placed into service in the U.S. The legislation would amend the Internal Revenue Code of 1986 to provide the incentive to the generate electricity from offshore wind.

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Industry News

AWEA Issues Second Quarter 2017 Market Report

LCG, August 3, 2017--The American Wind Energy Association (AWEA) recently released its new U.S. Wind Industry Second Quarter 2017 Market Report. AWEA's evaluation concludes that developers installed 357 MW of new wind capacity in the U.S., increasing the total to 2,357 MW. The total installed capacity in the U.S. is now 84,405 MW, and Kansas became the fifth state in the U.S. to surpass 5,000 MW of installed capacity.

Three companies dominated the installations. GE Renewable Energy, the newly merged Siemens Gamesa Renewable Energy, and Vestas installed a combined 97% of the 2,357 MW of facilities commissioned during the first half of 2017.

AWEA estimates significant additional capacity from newly installed wind turbines by the end of 2017. For the second quarter, project developers announced 2,495 MW in new construction activity and 1,346 MW in new advanced development activity. AWEA's report states that there are now 14,004 MW under construction and 11,815 MW in advanced development, or a combined 25,819 MW of wind capacity under construction or in advanced development. These figures represent a 41% year-over-year increase.

Texas continues to lead the U.S., with 21,044 MW of installed capacity. Based upon construction activity, Oklahoma may surpass Iowa to become the second-ranked state in installed capacity by the end of 2017. California and Kansas are ranked four and five.

With respect to power purchase agreements (PPAs), AWEA reports new agreements totaling 1,697 MW were signed during the second quarter, raising the total capacity announced in 2017 up to 3,443 MW.
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