GLOBALENERGYDECISIONS

In the summer of 2010, European Union leaders agreed to the European Wind Initiative. It is ten year study that will give 6 million euros towards wind energy research and development, which should give a competitive edge to European energy companies who make use of wind energy. It took several years for the agreement to come to a head. Some of the objectives include establishing leadership in Europe’s wind energy community and making energy produced by both onshore and offshore wind the best energy source within the next 20 years. by 2050, they are hoping that over half of all of Europe’s energy will be supplied by wind power, which the European Union hopes will bring it to the forefront of the global industry. The initiative will also help create hundreds of thousands of jobs in Europe.

The wind energy industry, which has been struggling to find funding, may have its biggest backer in the European Union. This initiative could help bring new innovations to market much quicker, through the extra funding to research and development. Leadership believes that this will bring a lot of progress to the industry, which will help create a more sustainable and cleaner energy source.The information party rocks on: Reading the VC Tea Leaves: Solar Sizzles, Wind Wilts