Berkshire in Top Three in Wind Energy Production

(BRK.A), (BRK.B)

Xcel Energy, Berkshire Hathaway Energy and Alliant Energy are the top three US utilities with “wind capacity currently under construction or in advanced development,” according to the American Wind Energy Association.

Wind is playing an ever-increasing role in the US energy market.

Some 7,017 MW of new wind capacity was added in 2017, which boosted the US’s total to 89,077 MW.

Wind power has passed hydroelectric as the number one renewable energy source.

Wind energy generation is also a growing employer nationwide. At the end of 2016, the US topped 100,000 Americans employed in the wind energy industry.

According to the according to the American Wind Energy Association, “wind energy delivered over 30% of the electricity produced in Iowa and South Dakota in 2016. Kansas, Oklahoma, and North Dakota generated over 20% of their electricity from wind, while 20 states now produce more than 5% of their electricity from wind energy.”

Berkshire Hathaway is also playing a key role in the financing of wind-power projects. The recently announced 300-MW Tahoka Wind project, which will be constructed in Lynn County, Texas, has long-term tax equity from BHE Renewables, LLC, a Berkshire Hathaway Energy Company.

© 2018 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.