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Energy & Science

Wind Power’s ‘Colossal Market Failure’ Threatens Climate Fight

  • Turbine makers reel from soaring costs, changes in subsidies
  • Chinese companies could grab more of market as rivals stumble
Bloomberg business news
The Wind of Change in Energy Jobs

Optimism abounds about the future of wind power, with a clean-energy boom powering robust growth in an industry that businesses and governments agree is key to slowing climate change. But a nagging problem could keep the sector from fulfilling that promise: Turbine makers are still struggling to translate soaring demand into profit.

Wind power heavyweights Vestas Wind Systems A/S, General Electric Co. and Siemens Gamesa Renewable Energy SA are reeling from high raw material and logistics costs, changes in key clean-power subsidies, years of pressure on turbine prices and an expensive arms race to build ever-bigger machines.