So called “conservatives” like to talk about the subsidies received by renewable energy sources like wind and solar – but don’t mention that those subsidies are on the way out.
Meanwhile, smart business people are making long-term investments in wind power, for instance, precisely because the subsidies have worked as hoped — allowing a learning curve and economies of scale to drive down prices and create a viable renewable industry.
Similar process playing out in the UK, as the video above indicates.
So who really works for, and believes in, a free market?
Congress does not plan on subsidizing renewable energy indefinitely. Under tax legislation passed in 2015, the credits for wind will phase out by 2020 and for solar by 2022. Both industries say that they have been preparing for this eventuality for years by cutting costs, but that changing the rules so suddenly in the current tax bill would have created major disruptions for projects that are already underway.
The Hywind wind farm is the world’s first floating wind farm, located about 15 miles off the coast of Scotland. Unlike other offshore wind farms, Hywind isn’t anchored to the seafloor. Instead, Hywind relies on buoys and anchors to stay afloat even in high winds or waves. This makes floating wind farms like Hywind a great choice for regions where traditional offshore wind farms aren’t viable.
“The west coast of the USA, Japan and Hawaii are all places that need a lot of energy and that are consistently windy, but where the sea is very deep,” says Hywind engineer Halvor Hoen Hersleth. “Floating wind power is ideal for these areas.”
But for floating wind farms to be successful, they have to be more than just versatile. They also have to be profitable, which means generating enough energy to justify the large construction costs. Fortunately, the Hywind farm seems to have succeeded in this area as well, reaching a 65 percent capacity factor over the past three months.
A generator’s capacity factor is the ratio between the amount of electricity it generates and the maximum amount of energy it could possibly produce. Most baseline plants, like nuclear or natural gas plants that run continuously, have around a 100 percent capacity factor. Many renewable energy facilities like wind or solar farms have a much lower capacity factor, around 30 percent or so.
Given that, a 65 percent capacity factor for the Hywind farm is pretty good. Granted, winter winds tend to blow stronger than summer ones, so we could see this number drop over the rest of the year. Still, this is much higher than typical for wind farms, which bodes well for the concept of floating wind turbines in general.
Continue reading “As Subsidies Phase Out, Wind Still Powers Ahead”



