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EU wind targets under threat from volatile costs

Reuters · Reuters · last updated

 

Job cuts and slashed profit margins at wind turbine suppliers have highlighted the impact of rampant inflation and logistics issues on the wind industry.

The cost of energy and components in the European Union has soared since Russia invaded Ukraine and economies bounced back from the pandemic. Wind turbine production costs have surged by 40% and much of this has been absorbed by suppliers, according to industry group WindEurope.

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Related Knowledge Center: ENERGY BASICS: wind

State of Play

Decades of government support for the development of wind energy has resulted in lower costs and a rapidly growing share of electricity generated by wind turbines. Wind in 2019 accounted for 7.3 percent of electrical generation, surpassing for the first time hydropower at 7.0 percent. 

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