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Windtech International July August 2024 issue






Is the renewable industry the solution to conquer the economic crisis?

Currently the world seems to be in turmoil because of the economic crisis. Financial institutions all over the world are getting governmental support to avoid bankruptcy and a collapse of the world financial system. Will this situation affect our industry as well, or will the renewables sector provide the solution to overcome the crisis?

{access view=!registered}Only logged in users can view the full text of the article.{/access}{access view=registered}In situations like this governments often invest money in large infrastructure projects to create jobs and keep the economy going. Local politicians in several countries have stated that just now more money should be invested in renewables. This will help the local economy and replace the jobs lost from other industries, and it would also increase energy independence and help fight climate change.

Just after the one-year extension of the Production Credit Tax (PTC) in the USA, several announcements were made by manufacturers about to set up new production facilities in the country. The plant announcements and openings in several states underscore wind power's ability to generate jobs as well as electricity.

The situation is different in Europe since most wind turbine manufactures are from Europe and there is no need to set up extra facilities to produce for the European market. In Europe governments could invest in the energy infrastructure like the grid and transmission lines so that more projects are able to deliver the generated electricity into the grid. This is especially important for offshore wind to really take off. Some offshore projects are delayed because of the high investments necessary to connect the wind farms to the grid and the debate about who should bear the costs. The UK Government is now considering bringing forward energy projects to stimulate the economy, and investing in the upgrade of the grid is one of the ideas. In other European countries similar discussions are going on.

To meet the EU 2020 goals governmental action is required, so why not ‘benefit' from the current situation and speed up some investments needed. This would support the local economy and at the same time help in meeting the goals set. All parties involved should take their own responsibility and be confident that our industry will be of help to stabilise the world economy!

The November/December issue will be the last issue of this year. Looking back at the first four years of publishing Windtech International we are very pleased with all the responses we have received. I would like to thank all who have participated and supported us. Without your help Windtech International would not have been as successful as it is. In 2009 we will, for the fifth year, continue to bring you the latest news with the focus on technology.

For now I wish you all a happy Holiday Season and look forward to meeting you in 2009.

Enjoy reading,

Floris Siteur
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