Turbine Troubles: The Wind Energy Industry Is Fast Being Blown Away, Harming Green Growth
Turbine Troubles: The Wind Energy Industry Is Fast Being Blown Away, Harming Green Growth
For years, it has been assumed that a three-legged stool consisting of nuclear, wind power and solar energy would create a sustainable path to ending pollution. Recently, however, part of that triumvirate — wind energy, especially offshore installations — has been battered enough that its contribution is in doubt.
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Wind energy faces several challenges. Among them is that the equipment is prone to breaking. High winds, bird strikes and faulty assembly can damage turbines, contributing to several companies that entered the industry early fleeing because of losses and expensive capital.
In that regard, two fossil fuel companies that entered the wind-powered industry have partially withdrawn. Shell and BP were players, presumably to hedge against the day that global reliance on oil would begin to taper off. As Semafor reported, “BP retreated further from its wind-power ambitions, placing its offshore turbine assets into a jointly owned business with a Japanese company.”
Nuclear rises
So, what will replace wind, if anything? One up-and-coming solution is nuclear, with plans to bring unused reactors back online as well as the development of small modular reactors (SMR), which are expected to be the future of this part of the industry.
https://www.msn.com/en-us/money/markets/turbine-troubles-the-wind-energy-industry-is-fast-being-blown-away-harming-green-growth/ar-AA1vFYJ9?ocid=msedgdhp&pc=HCTS&cvid=420dc614f27340bb90985995174f4628&ei=82
