"For the first time, Make forecasts the majority of new wind capacity in the Americas occurring outside of the US market," says the consultancy in a summary of its inaugural Americas Wind Power Outlook Report.
Make expects the Americas to add nearly 92GW of new wind power capacity from 2013 to 2020, but the rate of growth will be dramatically different between North America and Latin America.
Enough demand exists in North America to support an average build of more than 6GW per year, while Latin America will see a 20% compounded annual growth rate. "Opportunities in Latin America abound as market potential has yet to be fully realised, and only recently have regulatory frameworks been executed to spur growth in renewable energy.
Unlike in North America, the emerging economies of Latin America and associated macroeconomic conditions support higher electricity consumption that creates opportunities for wind power development," the report says.