Onshore Wind Energy Market Analysis
Onshore wind has long been a bastion of renewable energy provision globally. Markets in Europe quickly exploited the resource throughout the early part of this century, whilst the abundant resources of the US and Latin America remain only partially tapped. The current outlook for onshore wind however is markedly different. As with much in energy and infrastructure at present the sector is struggling under the weight of the on-going financial crisis, particularly in Europe. Government support for the sector has dwindled, and in some cases all but disappeared, under pressure to address sovereign debt issues and national unemployment and services – Spain is perhaps the most cautionary example of this shift in attitude. However, technological advancements are reducing the cost of turbines, thereby creating more reliable and larger outputs, key factors in stimulating any resurgence of the sector. Moreover newer emerging markets like Africa and Asia & Pacific are beginning to take advantage of their huge wind resource, something which could provide great opportunities in the sector in the medium to long term.
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