Thursday, 28 April 2016
By Amanda Augustine and Marcial Nava
With a reputation as a reliable and scalable source of energy, wind energy makes significant strides as government incentives, global investments, and technological advances aid growth.
Wind farms will continue to enjoy the benefits of the production tax credit (PTC) at least until 2020 when it’s set to expire, but the government will likely continue to play a decisive role even as the industry achieves further efficiency gains and subsidies become less needed. Furthermore, consumer preferences (80% of Millennials are in favor of a transition to mostly renewable energy by 2030) will provide additional support for wind energy.
As the U.S. energy mix is shifting away from coal, there is wide consensus that natural gas is a bridge fuel towards renewables, given its ability to meet climate objectives and energy needs.
In a historic move, OPEC, along with non-OPEC nations like Russia, agreed to cut production after a prolonged period of low oil prices.