Wind Turbines Drain The British Economy

By: Stanford Magnets  03/28/2014
Keywords: Wind Energy, Wind Turbines, Neodymium Magnets

It seems that the British government is driving a shift in its policy of subsidizing the wind power industry. Until recently the main focus of its financial aid (estimated to be £1.2 billion by 2013) had been the onshore wind farms, quite quickly appearing to transform the rural English landscape and disrupt the otherwise serene surroundings. The shift to subsidize offshore turbines may seem a move driven by aesthetics or environmental concerns, but it may in fact be a strategic move to reassure investors and industrialists of wind energy's economic viability.

The initial stimulus for wind power plants' popularization in the UK (as well as the rest of the world) was the promise of safe, cheap and continuous influx of electrical energy. While wind turbines have managed to deliver on the "green" part of their promise (except maybe occasional bird collisions and infrasonic hums affecting human nervous system), there is growing concern about the financial side of this solution.

According to a report published around mid-2013, the wind power industry received £1.2 billion in consumer subsidies (paid as a supplement to electricity bills by citizens). This amounts to an effective subsidy of £100,000 for each job in the sector, claiming - by voices of its most vocal proponents - to be both profitable and job creating. Even if the job count rises to the figure of 75,000 projected for 2020, at the present rate of subsidizing each job will have received around £80,000. This is much more than in any other sector of the British economy.

The wind energy program has started to receive more and more criticism on grounds of unmet promises and unrealistic predictions, most notably from a think tank Renewable Energy Foundation and some Conservative Party MPs. There is also possibility of adverse effects this subsidy might have on the overall job market, since many businesses and industries will consider relocating abroad in order to evade the additional costs imposed on them. The coming years will show just how exactly viable the wind business turns out to be.

About Stanford Magnets.

Based in California, Stanford Magnets has been involved in the R&D and sales of licensed Rare-earth permanent magnets, Neodymium magnets and SmCo magnets, ceramic magnets, flexible magnets and magnetic assemblies since the mid of 1980s. We supply all these types of magnets in a wide range of shapes, sizes and grades.

Keywords: Neodymium Magnets, Wind Energy, Wind Turbines

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