EU to probe 'unfair trade' and use auction design to help boost wind sector - Recharge
EU to probe 'unfair trade' and use auction design to help boost wind sector | Recharge
The European Commission as part of its ‘wind power action plan’ launched today (Tuesday) said it will ‘closely monitor possible unfair trade practices’ which benefit foreign wind manufacturers, and streamline the design of wind power auctions across its member states.
Both measures are intended to protect domestic wind OEMs from growing Chinese competition.
Brussels also sharpened its toolbox for the expansion of offshore energy in order to boost annual additions tenfold to 12GW per year on average.
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”