Here’s How Brexit May End Most British Wind Power
Andrew Follett for the Daily Caller: Officials from Britain’s wind industry are terrified their subsidies and tax incentives will end because of the U.K.’s decision to leave the European Union, according to a report by Reuters published Friday.
The report found that British wind companies, particularly ones that specialize in offshore wind power, are worried that Brexit places the government subsidies and easy access to financing at risk. The industry is deeply dependent on these subsidies to make projects more economically viable. Britain’s political uncertainty following the pending resignation of Prime Minister David Cameron means cuts to subsidies are likely. The Brexit could also make it much harder for wind companies to get loans from European banks, which could significantly slow the expansion of wind power. Cont'd...
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