According to a new report from Moody’s, wind turbine manufacturer sales will get a boost thanks to the agreement signed at the Climate Change Conference in Paris.
Over 160 countries signed the Paris Agreement, which hopes to limit temperature rises to “well below” 2°C (3.6°F) compared to pre-industrial levels. As a result, Moody’s sees an increased investment in emerging markets for both wind and solar.
A statement released from the company announced ‘Momentum has shifted from mature markets in Europe and the US to emerging markets and Moody’s now expects that new equipment growth over the next five years will come from emerging markets such as India, Brazil and, increasingly, Africa.’
Moody’s Managing Director — Corporate Finance, Matthias Hellstern said: “It is highly likely that new installations will remain flat on 2015’s record level, as the industry has matured and governments in many developed markets are reducing new installation targets to cut back subsidies and limit costs for end customers
“However, the COP21 agreement will provide the basis for additional public support and financing in growth regions, which should offset this development in the longer term.”
Additionally, the company believes wind turbine manufacturers can be assured continued investments and growth in offshore installations, as onshore begins to slow in saturated European markets.ed the Paris Agreement, which ho