FPL Energy Cuts 400 MW of Wind Energy Plans

Assuming FPL is representative of the whole wind industry, it looks like wind may grow 25% in '09 rather than 40+% in '08. I write about it at:
www.setenergy.org

What do others think?

Dennis of Sustainable Energy Transition (SET)

The good news is that the collapse of commodity prices will delay substantially the investments in new capacities of fossil fuels. This mainly applies to oil and, maybe, coal.

http://www.bloomberg.com/apps/news?pid=20602099&sid=arn1g3qUqKAI

So - because of the credit crunch - when the Peak Oil comes the decline of oil production will be even bigger.

We can only hope that the investors all around the world will start preparing for the post fossil era earlier.

I would like to know where you sourced your story and who checked the details.

I contacted the solar rewards program ast Xcel. They are reducing payments as now the ITC pays 30% of an uncapped size project. The reward program, a subsidy on a $2000 capped project is now surplus to requirments and would have amounted to a double subsidy on top of the ITC rebate which .
Nothing to do with the credit crunch.

I made enquiries about Duke and was told. The Public Utility commission denied planning consent as the cost of electricity to the public was twice the cost of the local SunEd solar project and therefore was not in the best public interest. Duke was advised to source and build the project cheaper or buy from SunEd. Once again nothing to with the credit crunch.

My enquiries into FPL cutting back its winds space activities came from a respected US broker. They informed me that the local planning consent was delayed and overlapped into the turtle mating season resulting in further delays.

Its seems that a little digging can come up with something very different from the scare mongering headlines that news hacks love to generate so that they can be first to press and sensationalise the theme of the day, in this case the credit crunch.

Suddenly wind energy isn't so glamorous. It is interesting that FPL is cutting expeditures for wind energy technology at the same time they are about to receive a 30% Federal Tax Credit for solar energy development. As they say timing is everything.