Europe Could Attract $417 Billion With Higher Wind-Power Target

Jess Shankleman for Bloomberg Technology:  Europe’s wind power industry may attract 351 billion euros ($417 billion) of investment by 2030 if countries adopt reforms and targets for their energy systems in the next year, trade association WindEurope said.

The European Union may create 716,000 jobs with a target for member states to produce 35 percent of their energy from renewables within 12 years, the Brussels-based group said in a biannual report setting out scenarios for the industry.

Wind power currently supplies about 10 percent of Europe’s electricity, and falling costs of technology are making it an increasingly viable alternative to fossil fuels, the group said. Even offshore wind, once the most expensive form of mainstream renewables, saw zero-subsidy contracts awarded in Germany this year.

“It is a realistic goal but it depends on how fast energy reform takes place,” Ivor Catto, chief executive officer of RES Group and chairman of WindEurope, said before the report was released on Tuesday. “The technology is moving apace.”  Full Article:

Comments (0)

This post does not have any comments. Be the first to leave a comment below.


Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

AllEarth Renewables - The Solar Tracker

AllEarth Renewables - The Solar Tracker

Designed and manufactured in the U.S., the AllEarth Solar Tracker is a complete grid-tied, dual-axis solar electric system that produces up to 45% more electricity than fixed systems. The tracker uses GPS and wireless technology to follow the sun throughout the day for optimal energy production. It has an industry-leading 10 year warranty and 120 mph wind rating, superior snow shedding, and automatic high wind protection. Its simple, durable design and complete system pallet simplifies costly procurement and installation time. Contact us about becoming a dealer partner or purchasing an AllEarth Solar Tracker.