U.S. Offshore Wind Industry Faces Uncertainty: Political Roadblocks and Global Impacts

2 comments

1. This author is painfully unfamiliar with this industry.

   “Britain isn’t just keeping up, but it’s also pulling ahead and positioning itself as a stable, attractive hub for offshore wind development while America deals with its internal struggles.” – the UK been building their industry for decades??? Pulling ahead???

2. The empire wind project was a boondoggle from the start. Costs were severely underestimated in order to promote the project, and then the actual costs skyrocketed. The original agreement was for a strike price on the electricity generated at about $115/mwh, but with costs rapidly increasing, the operator came back and asked for $159/mwh. An agreement was eventually reached with NYS for $155/mwh.

   However, the average cost for electricity in this service area in the prior 12 months was $36/mwh.

   This was the incompetent govenor Hochuls attempt to check off her environmental credentials box at any price, and she was more than happy to throw a third of the population under the bus to do it.

   NY is already the most expensive place in the country to live, and Hochul was happy to increase electricity costs by 4x to make herself look good to voters.

   Offshore wind is a great concept, but it is by far the most expensive power option, and wont be feasible until costs are competitive.

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