In recent years it has been the world's fastest growing energy source. By the end of 1998, more than 10,000 MW of electricity-generating wind turbines were operating in almost fifty countries around the world. The most successful markets for wind energy in recent years have been in Europe, particularly Denmark, Germany and Spain. There has also been an upsurge in the use of the technology in the United States, as well as in many developing countries, including India, China, and South America. Wind energy is successful in a diverse range of economies and geographical terrain.
Wind power is also among the cheapest of the renewable energy sources.
At good wind sites it is already fully competitive with new traditional fossil fuel and nuclear generation. Its cost also continues to fall as the technology improves and the use of individual sites is maximised. In recognition of its environmental advantages, many countries have supported wind energy development with government-backed incentives. The aim of these has been to stimulate the market, reduce costs and compensate for the unfair advantage currently held by conventional fuels, for example through state subsidies. A range of market stimulation mechanisms have been used in different countries.