Wind sector contributes EUR 32bn to EU economy in 2010

Apr 17, 2012 - The wind energy industry contributed EUR 32.43 billion (USD 42.5bn) to the European Union's (EU) economy in 2010, representing 0.26% of the bloc's gross domestic product (GDP), the European Wind Energy Association (EWEA) said in a report yesterday.

According to the analysis, released at the association's annual event in Copenhagen, in 2010, the sector's contribution to GDP rose by 4.1%, twice as fast as the GDP itself. The industry is expected to continue growing faster than the economy over the next 20 years. Its contribution to GDP increased by 33% between 2007 and 2010 and is expected to reach EUR 94.5 billion, or 0.59% in 10 years' time and EUR 174 billion, or nearly 1% in 20 years' time.

The number of jobs in the industry for 2010 grew by nearly 30% on 2007 figures to almost 240,000. They are forecast to increase to 520,000 by 2020 and possibly to 795,000 by 2030. In 2010, the industry was also a net exporter of EUR 5.7 billion of goods and services and saved EUR 5.71 billion of fuel costs.

EWEA says that the wind sector is a recession-busting industry and it should be seen not only as a way to tackle climate change and improve energy security but also as an economic growth driver. It called for stable national renewable energy frameworks and a binding renewables target for 2030 among other things in order to maintain growth in the sector.

(EUR 1.0 = USD 1.311)

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