The rise of wind power

With rising oil prices and soaring energy costs, the calls for solutions and energy alternatives rise as well. In particular, wind energy is growing both in size and industry importance. Recently, Duke Energy announced the purchase of Vermont-based wind company Catamount Energy, cementing Duke's future in the industry it entered 13 months ago. The acquisition will increase Duke's wind holdings to 500 megawatts of operating energy, the equivalent of a medium-sized power plant. The purchase also gives Duke a 50 percent stake in the Sweetwater project in Texas, one of the largest electricity-generating wind farms in the world.

According to reports from the U.S. Department of Energy, 20 percent of the nation's power could be produced by wind by 2030. For more on wind power and Duke Energy, see Wind appears on the verge of becoming a power player.

In a report released in June 2008 by the Energy Information Administration (EIA), world energy consumption by 2030 is projected to increase by more than 50 percent. See International Energy Outlook 2008.