Wind energy executives offer predictions of the future of the European marketMarch 17, 2014
Europe’s wind power sector is poised for strong growth and evolution in the coming years
Executives from Europe’s wind energy sector have come together during a meeting of the European Wind Energy Association in order to provide predictions concerning the future of the wind market. Europe has become a very active market for wind power, with several countries investing heavily in wind projects. Both offshore and onshore projects have managed to find traction throughout Europe and many countries are showing favor for these projects because of the economic opportunities they have to offer.
Advanced technology will help the wind sector stop relying on government subsidies
According to executives from the wind sector, advanced technology that does not rely on subsidies from European governments will soon become commonplace. Relying on subsidies has caused some stagnation in the wind sector because governments are not often inclined to show financial support for projects that are considered too innovative. Better technology could help make wind farms produce more electrical power more efficiently.
Executives have high hopes for the offshore wind market
Executives suggested that more could be done with making offshore wind power more valuable as well. Many countries have begun investing in offshore projects, but these projects tend to be expensive and many governments have difficulty reconciling the expense of these projects with the energy they are able to provide.
Improvements to existing energy grids are becoming a priority
Notably, executives have concerns regarding existing energy grids. Recent storms in Europe have significantly boosted the energy production of some wind farms in Europe. These wind farms produced more energy than infrastructures could handle, leading governments to shut down these energy systems while also providing the managers of these systems compensation for the downtime. By 2020, executives want to see energy infrastructures that are capable of handling the production of renewable energy systems. Executives are also promoting the modernization of energy grids. Currently, energy storage technology tends to be inefficient when it comes to clean power, meaning that the energy produced by clean technologies is sometimes lost when it is supplied to an existing energy grid.