Wind Power to Be Subsidy-Free in Less Than Five Years, GE Says

Wind power both on land and in the sea will be profitable without government subsidies as early as the start of next decade, according to the head of the renewable energy arm of General Electric Co.

“Within a few years, the era of subsidies will be behind us—less than five,’’ Jerome Pecresse, chief executive officer of the GE renewables unit, said in an interview at the Bloomberg New Energy Finance summit in London on Monday. “Subsidies are progressively disappearing for onshore and in Europe offshore, you’ve seen a few projects happening without subsidies.”

The cost of wind power has been ...