Almost everyday there is another alternative energy news item in the Wall Street Journal. On July 9th, they are anguishing about the lack of windmill parts.
Let’s go on a thought exercise. Imagine, if you will, that this were instead an article about oil production and a shortage of doohickeys that were necessary for oil production, what would the tone of the article be? This is great for business! A new industry and new jobs will be created that will foster economic growth, competition and innovation. But, now, the focus is on the lack of parts and how complicated a wind turbine is and firms from other countries are going to buy out small manufacturers.
Yes, there are 8,000 parts in a wind turbine. I wonder how many parts there are to a coal-fired turbine, a gasoline-powered car, or even a high-tech mountain bike. I am sure these are also in the thousands (maybe not the mountain bike). Surely no one at the Wall Street Journal is complaining about this complexity.
“May you live in interesting times” is an old Chinese curse, but for each interesting time there are many exciting opportunities. I am sure many people will find those opportunities.
You’re right. One thing is for sure, though, as demand for wind and other clean energy sources increase, the market and the policy makers will be forced to take notice.