European Union To Cut Down Emission Of Carbon Dioxide

European Union To Cut Down Emission Of Carbon Dioxide

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Renewable energy investments are spreading at a tremendous rate across the globe. In Germany, investments in solar and wind energy are experiencing favorable conditions as the government of Germany gives tax advantages that big and small companies can enjoy. Dong Energy, responsible for the construction of a German offshore wind farm in the North Sea, will establish 89 turbines that will supply energy to approximately 330,000 German homes. This venture is the first offshore wind farm for Dong Energy in Germany, which plans to continue doing projects in the German market until the wind sector starts experiencing a higher growth rate. Around $9 billion USD has been allocated by Dong Energy, and these funds are intended to, among other things, stabilize the price for electricity to consumers. Dong Energy will benefit for 13 years while private energy investors retain the fixed settlement price over lifetime of the turbines.

Wind energy investments in other European countries are threatened by poor economic conditions. The region risks being cheated out of huge orders because the European Union countries are trying to reduce deficit spending and will not have the money to produce renewable energy investments. The recent economic crisis is forcing many European countries to tighten their belts, hitting even the wind industry. One important policy goal of the European Union countries is to cut by 20 percent the region's carbon dioxide emission by 2020. Director of Government Relations Peter Brown recently announced that the European Union will seriously target climate change; these efforts should foster robust growth in wind power industry in the future.

Many investors are worried about private wind energy investments, but large government agencies can make a large investment without worrying about the economic situation. There is a state-guaranteed payment for the turbine, while simultaneously, investors can write off one-fourth of the initial investment cost; this effort was put in place so that the investment can be implemented without impacting disposable income. Many have pointed out that the greatest advantage of wind energy investment is achieved when at the end of the process, just before the turbine becomes operational. The opportunities available with wind energy investments cannot be ignored, and should not be delayed. Investing in renewable energy such as solar, wind, geothermal and so on, at the right time, will likely prove to be a wise move in the years to come.

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