Trump's tax plan can halt the US wind energy boom

Although 40 GW of added US wind is expected in 2020, political uncertainty makes investors hold back. Tax cuts as well as increases can create problems, whilst a frowned upon yet possible move could cause chaos.

Photo: Pablo Martinez Monsivais

The US wind turbine market is currently undergoing its biggest boom yet. According to the latest forecast from consultancy firm Make, 7.3 GW of new wind will be installed in the United States this year, while a total of 40 GW is expected to be added to the existing capacity by the end of 2020. This corresponds to an increase of approximately 50 percent of the current capacity in just four years.

This should be a comforting message to the renewables market after the anxiety generated by the election victory of pro-coal, climate skeptic US President Donald Trump. After the day of the US election, the share value of the world's largest wind turbine manufacturer, Vestas, dropped by 13 percent in the first two minutes.

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