Gallery: Siemens To Reduce Its US Wind Energy Taskforce By 38% Over Con...


Photo via Shutterstock

Wind turbine producer Siemens has announced that it will reduce its US wind energy workforce by 38% due to adverse market conditions caused by the uncertain future of the wind energy tax credit,  price competition from natural gas and sluggish growth in electricity demand. The company said the cutbacks were necessary until market demand for turbines revives. Recent estimates suggest that while US turbine installations could reach 12GW this year, the figure could plunge to between 1.5GW and 3GW in 2013, as developers freeze projects depending on Congress’ willingness to extend the federal production tax credit (PTC).

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1 Comment

  1. bthinker September 23, 2012 at 11:44 pm

    Romney won’t win. If somehow he does I’m getting a passport and leaving.

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