By Himanshu Shah, ARC Advisory Group
Unstable oil prices, economic uncertainty, and geopolitical risks are vitally important issues for many countries around the world. Energy independence has moved sustainable and carbon-neutral power generation solutions to the forefront of every political agenda. Photovoltaic solar energy, wind power, nuclear, and bio-fuels are all being explored as viable alternatives.
Wind power generation, however is a well-proven technology and has garnered a tremendous amount of interest in every region of the world. Continuing advances in both wind turbine component technology and wind turbine control (WTC) systems will play a significant role in increasing the total amount of wind-generated electric capacity available in the future and the future success of new and existing suppliers to this rapidly growing market.
The energy situation profoundly impacts developing countries, which are highly dependent upon imported oil and other fossil fuels. And unless developed regions change course, the current energy model will lead to importing an ever-growing share of fossil fuels, often from politically unstable regions and at unpredictable and higher prices. The world’s appetite for energy grows faster than additional sources of fossil fuels can be found. Emerging economies in Brazil, Russia, India, and China increase demand for energy resources. Meanwhile, the negative effects of climate change and pollution become more apparent. According to the Intergovernmental Panel on Climate Change, global warming is a reality, and strong evidence points to greenhouse gas concentrations as a major cause. Along with solar and other forms of alternative energy, many experts regard wind power as an inexhaustible resource that can strengthen energy security, does not negatively impact air quality, and can help slow climate change.
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