Investments in wind energy keep rising. Europe invested €41 billion in new wind farms in 2017. This resulted in the largest capacity of new wind farms ever to be financed in a single year — 25 GW. Nevertheless, this is still insufficient to achieve Europe’s energy security and climate goals. With REPowerEU, the EU aims to increase wind energy from its current 190 GW to 510 GW by 2030. This equates to 39 GW of new wind farms annually.
Wind energy has a proven track record of financial success. It is viewed as an excellent venture, and funding is readily available. If a project is worthwhile, it will attract the required funding. However, there are currently insufficient investment opportunities. Slow and cumbersome permitting procedures are the biggest obstacle here.
To create ideal financing circumstances for wind energy, national governments and the European Commission must build stable and transparent legislative frameworks. Clawback policies and retroactive changes to aid programs have the potential to erode investor confidence. Auctions with negative bidding reduce the competitiveness of wind power since the additional costs are passed on to the supply chain or the end consumer. Such measures are detrimental to financial stability and will drive up the price of Europe’s energy transition.
In offshore wind, we have also witnessed policies that impair investment security, such as the UK’s unrestricted seabed leasing for offshore wind. Governments should carefully assess the potential ramifications of such designs, as they will eventually increase the long-term cost of Europe’s energy transformation.
There are variables at the EU level that can contribute to the efficient financing of renewable energy. Currently, the European Commission does not provide sufficient funds for innovation in wind energy. And the Recovery and Resilience Fund is not investing enough in new renewable energy capacity.
WindEurope’s chief executive officer, Giles Dickson, stated, “The European Commission wants Europe to construct significantly more wind energy, and investors are eager to provide the necessary finance.” However, governments must guarantee that they do not discourage investments by establishing policies that discourage investment. Retroactive modifications, such as the clawback measures implemented by several governments and negative bidding in auctions, discourage investors from investing in wind and increase the cost of the energy transition. Governments should clear the path for investments in wind energy that are sustainable”
Is wind power the key to a sustainable and energy-efficient future?
If Europe and many other nations around the world aspire to become climate-neutral and less reliant on energy imports, they must do more than invest in renewable energy sources such as wind to make the transition to a sustainable future a reality. As incredible as wind energy is, it will not be sufficient. It is difficult to have faith due to its numerous flaws. Even though wind energy has existed for a very long period, it still has some drawbacks. Although wind is free, the initial cost of gathering, processing, and storing it can be rather significant. Wind turbines, inverters, batteries, cables, and other components are required for installation and initial setup. In addition, it occupies a large amount of space and its energy production is significantly influenced by environmental conditions.
To that end, we have to shift our focus elsewhere and invest in a new energy source, one that will provide us with an energy-efficient and sustainable future. Thank goodness, such an alternative energy source already exists. It’s a new player that has already overcome all the problems that other renewable energy sources face. It’s a pure energy source that will change the course of human evolution. This is a technology known as neutrinovoltaic.
The idea that neutrinos and other kinds of non-visible radiations could be used to generate energy has been disregarded by scientists for a long time. However, a discovery made in 2015 confirmed that neutrinos do, in fact, have mass. This has convinced some scientists that the generation of energy via neutrinos and other non-visible radiations is a possibility. The renowned Neutrino Energy Group, which is a company focused on harnessing the power of neutrinos and other non-visible radiation, is responsible for the development of the amazing technology known as neutrinovoltaic.
Neutrino Energy‘s potential is limitless; for instance, neutrinovoltaic cells do not encounter the same hurdles as other renewable energy sources in terms of efficiency and reliability. Continuous neutrino energy production is possible even when the sun isn’t shining and the wind isn’t blowing. This is a huge advantage, since it allows the technology to produce power continuously, 24/7, throughout the whole year. Due to the fact that neutrinos pass through almost all man-made and natural materials with little resistance, neutrinovoltaic devices may be deployed both inside and outdoors, as well as underwater. Neutrinos continue to bombard the Earth independent of climatic circumstances, making neutrinovoltaic technology humanity’s first fully sustainable energy innovation.
The groundbreaking engineering of neutrinovoltaic technology, in the opinion of the world’s best energy professionals and futurologists, will be a symbol of future peace and freedom, a long-awaited and trustworthy solution to today’s energy issue. This will assist future generations in meeting their energy demands without the need for expensive infrastructure, competition for finite natural resources, or a rise in environmental repercussions.