The Impact of the Economic Recession on The Wind Power Industry

The huge decline in renewable energy market activity is related, not only to theρ recession, but also to the growing uncertainties. Regulatory uncertainties related to climate policy legislation and energy legislation. Economic uncertainties linked to funds, government incentives, taxation, future prices , power agreements, etc. Geopolitical instabilities linked to fuel supply, supply chain, the role of transit countries, imports and exports. The future prospects for the Greek economy seem still somewhat unclear with a considerable degree of pessimism about the longer term.

Investments in construction (Gross Fixed Capital Formation Residential & Non Residential) are in a free fall, registering a 62.7% cumulative decrease (in 2005 prices) over the period 2007-2014, according to the latest EU Commission estimates. This fact reflects the huge decrease in investments, amounting to 71.2% cumulatively over the same period. Indeed, the recession of the Greek economy is often regarded as being different from previous recessions in other countries because of the impact of three factors: