renewable energy grants treasury
Two recent announcements highlight the positive outlook for the future of the renewable energy sector, while mixed news from the U.S. shows that the current recession is having a significant effect on its market of renewables.
Last week the Australian government announced its commitment to support renewable energy by allocating funds of $ AUS245 million for the Renewable Energy Program demonstration. The Program's objective is the achievement of marketing of new renewable energy technologies in Australia, including sources of geothermal and wave technology, along with a new mini-network project using wind, solar, bio-diesel and energy storage technologies.
Meanwhile in Europe, the European Investment Bank, (EIB) was associated with three commercial banks said it would offer loans to farms of onshore wind power in the UK. This initiative has received support from both the UK Treasury and the Department of Energy and Climate Change, and could result in the construction of new wind energy projects land worth at least 2.33 billion U.S. dollars (£ 1.4 billion) over the next three years.
The Greater Gabbard project Wind is moving full steam ahead (or in full sail). This project was developed by Greater Gabbard Offshore Winds Limited (GGOWL), originally a joint venture between Airtricity and Fluor. Scottish and Southern Energy acquired Airtricity and then later bought the stake from Fluor and Fluor are hired to design, supply, installation and balance of the plant. (In November 2008 Scottish and Southern sold a 50% share of RWE, the owner of Npower (UK) for £ 308m.) In October 2009 Seajacks Ltd delivered the vessel of 7,000 tons Fluor Corp. Leviathan, and sail to Harwich to prepare the bait and launch of a substation in the field and then the actual installation of the turbines. TRS Staffing, as a subsidiary of Fluor's contracts, are responsible for all project resources of Greater Gabbard working outside our offices in the UK and Netherlands. TRS are also actively working with Grupo Abengoa, Spain, Mexico, Angola and the Middle East.
In contrast to these projects, the U.S. has apparently been feeling some direct consequences of the economic slowdown, with a fall in demand for solar panels, resulting in the accumulation and a price drop of around 30%. With manufacturing panel able to match this drop of income in any significant savings, the sector is undoubtedly enduring difficulties.
So what are actually future for employment in renewable energy? In my opinion, Europe and the Middle East will pave the road. Projects such as NASD in the United Arab Emirates, combined with the availability of EU subsidies, will lead in greater economies of scale, and a general rationalization in the industry. Companies will have to increase its commitment and investment, and essentially become in primary renewable energy companies. This is illustrated by the success of companies such as Abengoa, and of course the disappearance of BP Solar and GE (Solar Manufacturing).
I want to avoid oversimplifying the market, however, and am willing to hear their views on how the renewable energy market will evolve in the near future.
