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Political

The political climate is warming to wind. Seldom has there been so much pro-renewables legislative activity than in the past three months. From the federal tax credit extension in the US, to Australia's 2% renewables target, to Europe's determination to launch a single market for renewables, the long range forecasts are good. Short term, however, there is plenty of turbulence. The tax credit subsidy is just a limited two year extension: the rush next year will be even more intense and the pressure on the industry even harder to bear than before. Countries like Australia are making positive noises, but with little regulative substance to back it up. And Europe is still struggling to find a way of supporting renewables without contravening the EU's competition rules.

While warm, however, the climate is still far from hot. Only 16 countries have ratified the Kyotol protocol -- and they are all developing countries with little cash for wind subsidies. The protocol is still a long way from being a legally-binding force for renewable energy.

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