Articles filed under Impact on Economy from Europe
An Internet-style bubble is looming in renewable energy stocks with valuations reaching the ozone layer and businesses managing to secure flotations with little or no turnover, a French investment fund has warned. With raw material prices showing no sign of abating, companies that supply renewable energy or equipment such as wind turbines and solar panels could see their margins suffer, Matteo Novelli of Star Innovation at CFD Capital Management said. "There is clearly a bubble forming in the eco-energy market and there could be a hefty correction at some point," Novelli told Reuters in an interview on Thursday. European Union leaders have pledged to get a fifth of the bloc's energy from renewable fuels like wind, solar and biofuels by 2020, three times the current level. Political pressure for a cleaner environment and high oil prices have sparked an investment rush into alternative energy. But Novelli said such businesses were so fashionable that valuations could not be sustained in the short to medium term.
Our experience shows that there is a real noise problem, which can be severe. Unfortunately, it is clear that existing regulations are not adequate to protect people, and until this whole noise phenomenon is better understood and regulated we feel that Councils and wind developers should be exercising the Precautionary Principle. Large wind turbines should not be permitted close to residential areas.
Lord James Joicey runs the 16,000-acre Ford and Etal Estate where more than 30 small businesses operate, most of them heavily reliant on tourism for survival. He went some way down the line of agreeing to have turbines on his land, but withdrew when the full implications of their size and impact on local society became apparent. He was also concerned for the owners of local small businesses. He admits, however, that the income from hosting turbines - around £10,000 a year per unit - would have been welcome.
One couple's plans on hold because of wind farms. How many more local businesses are affected? Businesses heavily reliant on tourism are dismayed at proposals to erect giant wind turbines in north Northumberland. When Nick and Gail Maycock rolled up at the front door of a former pub in Northumberland, they realised straight away it was for them. They were looking for somewhere to run as a B&B and, with their worldly goods and three dogs packed into their Morris Minor, the sight of The Friendly Hound couldn't have been more appropriate. Now, nine years on and £100,000-worth of rebuilding and development later, the couple look out on to the stunning landscape across to Ford Moss Nature Reserve with the threat of staring at 10, 360-foot wind turbines at every turn. "We don't want to see our hard work going down the drain," says Nick. "None of us is opposed to alternative energy sources and we realise we can't keep on going the way we are, but these developers have no interest in local businesses.
The Lake District attracts more than 17 million visitors, one million overnight stays and tourist spending in excess of £34m a year. Its lure to tourists is well known - hills, dales, lakes and attractions that range from Beatrix Potter to owl sanctuaries, and traditional Lakeland shows to restored miniature steam railways. But now, if the West Cumbria branch of Friends of the Earth have their way, visitors will be heading to this particular green and pleasant corner of England to gawp at . . . wind farms.
Fife's prime attraction for visitors must be taken into account when a proposed wind farm near the picturesque village of Ceres is deliberated, a tourism leader has warned. The region's main appeal for tourists, its scenery and environment, must be given due consideration VisitScotland Fife area director Alan Graham said.
But campaigners from local pressure group Vortex massed outside the venue and canvassed the opinions of visitors leaving the exhibition. Vortex member Roger Wytcherley, aged 55, of Napley Heath, said the majority of people were opposed to the plans. "Everybody has been very willing to tell us their feelings, and not many are for the wind farm," he said. "A lot of people say their questions are evaded and washed over. People are most concerned about noise and loss of equity in their houses. People are not buying houses around here because of the threat of the wind farm.
There's been mixed news for tourism in Berwickshire this week - while one plan looks set to boost the economy another development is threatening to do the exact opposite............Things aren't looking as promising for the residents of Coldingham Moor. As reported in last week's Berwickshire News, they are becoming increasingly worried about what repercussions the proposed windfarm for Drone Hill could have for them. The development is the brainchild of PM Renewables and if their application is given the green light by Scottish Borders Council's Planning Department later this summer, 22 76 metre high turbines could soon be standing on either side of the A1107 across the cliff tops. Both Coldingham Community Council and Coldingham STAG have voiced their concerns over negative side effects for the local tourism industry and a recent survey by Visit Scotland has confirmed their suspicions. Results pointed to the fact that 26 per cent of people questioned wouldn't visit a place with a windfarm in its vicinity.
People in Mid Wales have been urged to fight the "deluge of proposals" for windfarms. Welshpool-based campaigner Dan Munford has collected almost 2,000 signatures. Worried residents across Wales have been signing up to fight the expected increase in the turbines. Many have voiced fears that any such increase could have disastrous effects on tourism.
Trade and industry secretary Alistair Darling yesterday launched a landmark development which could make Lowestoft the "wind energy capital" of the country. Mr Darling visited the town officially to launch the building work for the £9m Orbis Energy project at Ness Point. The new business centre will be ideally placed to lead the way in delivering the clean energy commitments made in the minister's white paper last month, as it will overlook a section of the North Sea which has become a global focal point for wind and wave energy.
Hundreds of thousands of pounds promised to communities as a recompense for living in the shadow of Sutherland's only operational wind farm have yet to be paid, it emerged this week. The £25 million Beinn Tharsuinn wind farm, straddling the Sutherland/Easter Ross border, came on stream two years ago, but local people have yet to see a penny of the community benefit pledged.
I agree with Dr John Etherington's critical observations (April 23) about the recent "survey" on the impact of wind turbines on property values. I came across this "survey" in the media and wrote to the Royal Institute of Chartered Surveyors (RICS) expressing concern about its media statements about it. My letter and the response from RICS are as follows:
Does the BWEA think it unreasonable that SWATT request that the Welsh Assembly call a moratorium on wind farm development until independent surveys are executed on these vital issues. Concerning the election, our campaign resulted in us getting the issue onto the election agenda. And the two anti-TAN 8 main parties were the ones who gained seats in the elections.
LONDON (Reuters) - "Eco-friendly" is the buzz-word of the 21st century, and the environmental conscience is increasingly determining decisions on the home front. A growing trend for ecological homes epitomises the modern zeitgeist -- and "green" homes are set to account for a growing proportion of the housing stock. The government has promised to make all new homes zero-carbon by 2016, and those worth up to 500,000 pounds will be exempt from stamp duty until 2012. Consumers' concern over the future of the environment is yet to reach an apogee, but Britons are already revamping their homes with environmentally friendly features. More than 100,000 households have installed renewable energy appliances -- wind turbines and solar panels -- among them celebrity chef Jamie Oliver and Conservative Party leader David Cameron, who notoriously fell foul of planning rules after his wind turbine was erected in the wrong place. That figure is expected to balloon to 1.3 million by 2020. Such measures are environmentally sound, but are they economically so?
A Shetland businessman says his livelihood is threatened by a windfarm plan. Paul Featherstone rears around 180,000 sea trout smolts annually at his hatchery in Weisdale, which - after having been grown into sizable fish in sea cages - are being sold as organic sea trout to customers throughout the UK. His business, Shetland Sea Trout Ltd, heavily depends on continually pristine water qualities in the Burn of Weisdale, which feeds the tanks baby fish are being kept in. Yesterday, he said that plans to build around 30 of the 168 turbines planned upstream of his hatchery would "seriously" affect his business. Mr Featherstone's fear is that due to major construction and engineering work the peat bog in the upper half of the Kergord Valley will be destabilised and thus massive peat run offs will flush through the Burn of Weisdale.
Our report described how generators are favouring on-shore wind farms because they are much cheaper to develop than technology such as offshore wind or tidal power. Therefore, the Government is considering changing its policy to offer more ROCs per MWh for more expensive technology. This could reduce the amount of money companies can make from wind farms. However, this will not change until 2009, and any wind farm that is already established by that point will not be affected. For that reason, there is a suspicion that firms are racing to acquire sites before the cut-off point - and the huge amount of money they can make from ROCs mean they can afford to offer large payments to landowners who are willing to allow turbines to be erected.
Landowners in the North-East are being offered staggering sums of money to site wind farms on their property, The Journal can reveal today. A contract seen by The Journal for a site in the region could see the landowner rake in more than £6m for agreeing to the turbines. It demonstrates the huge temptation for landowners, who are offered a guaranteed income way in excess of what they could gain from any other source, for no outlay of their own. And it also illustrates the prices power companies are willing to pay due to the massive incomes they themselves can generate through a Government subsidy system for wind power.
Nothing can erase this UK-wide report from the historical record, but there are now claims that a new survey by Oxford Brookes University and RICS shows that windfarms do not impact on property value. Ifwe look carefully at this survey, it is based on two small windfarms in Cornwall where the turbines are less than 60m tall compared with the present industry standard of 120m and proposals by Gamesa for 180m (600 ft) giants in south Wales. The authors of this new report are more honest than the windpower developers with their warning that: "... as more windfarms are built, more property will become proximate. Therefore, a cautious approach should be adopted until a larger and more in-depth study can be undertaken." The wind promoters understandably ignore this "health warning".
The landscape of Shetland could be changed forever if the giant windfarm project goes ahead, those in the tourism industry told representatives from Viking Energy at a meeting on Wednesday. Members of Shetland Tourism Association, including accommodation providers and tour operators, expressed concern about the size of the proposed development, which could see as many a 192 turbines being erected in the central and north-east mainland. They feared the visual impact of the windfarm would deter tourists, although this was disputed by David Thomson of Viking Energy who produced the results of surveys carried out in other parts of the UK that windfarms made no difference. A suggestion was made to give questionnaires on the subject for tour guides to give to tourists.
A family who live in the shadow of a wind farm in Lincolnshire say they have "lost everything" just because of the noise it makes. Farmer Julian Davis, his wife Jane and their teenage daughter have already had to rent a separate house to sleep in because they are kept awake by the sound of the eight turbines. They claim their home, formerly worth £170,000, cannot be sold because it is so blighted by noise pollution but they may abandon it anyway. http://www.windaction.org/documents/7337