Vestas CEO Sees Turbine Sales Growing Amid Increased Competition

The transcript discusses the competitive nature of the wind energy industry, focusing on pricing trends and the impact of tariffs on costs. It highlights the stability in average selling prices and the introduction of new technology to manage costs. The conversation also covers market growth in Europe, America, and Asia Pacific, driven by policies and increased competitiveness. The US market's transition from subsidies to a market-based system is examined, with confidence in technology compensating for reduced government support.

What was a significant challenge for the wind energy market in 2017?

• Increase in government subsidies

• Rapid drop in average selling price

• Introduction of new technology

• Decrease in global demand

How has the wind energy sector attempted to manage costs related to tariffs?

• By outsourcing production

• By investing in new technology and improving efficiencies

• By increasing government subsidies

• By reducing production

Which region saw a 38% growth in order intake for wind energy?

• Asia Pacific

• Africa

• America

• Europe

What is a key factor driving the growth of the wind energy market?

• Decreased competitiveness

• Higher auction volumes

• Lower production costs

• Increased government subsidies

What system has the US wind energy market transitioned to?

• Government-funded projects

• Market-based auction system

• Subsidized feed-in tariffs

• Private investment schemes

How does the US typically introduce new technology in the energy sector?

• Through public-private partnerships

• By using tax credits

• By increasing tariffs

• Through direct government funding

What is the expected impact of declining government subsidies on US wind energy demand?

• Increase in demand

• No impact

• Decrease in demand

• Stabilization of demand