Tag: offshore wind industry

Report Finds One Of Biden’s Favorite Green Industries to Miss 2030 Target by Years Despite Billions In Subsidies

Virginia Star Staff
Offshore Wind Farm

Offshore wind is likely to miss the Biden administration’s 2030 target for the industry despite receiving billions of dollars of subsidies, according to a Tuesday American Clean Power Association (ACP) report.

The administration has a stated goal of having the offshore wind industry provide 30 gigawatts (GW) of power by 2030, but the ACP report projects that capacity will only reach about 14 GW by then. The Biden administration has subsidized the industry to the tune of billions of dollars since assuming office in 2021, but those efforts appear unlikely to put the 2030 target in reach until at least 2033, per ACP’s analysis.

Read More

Wind Developer will Keep More than Half of $300 Million Put Up for Offshore Project It Canceled

Just the News

New Jersey Gov. Phil Murphy had vowed to fight “tooth and nail” to keep the $300 million the company put into escrow, but the agreement allows the state to keep $125 million.

New Jersey Gov. Phil Murphy says offshore wind developer Orsted will pay $125 million for canceling two projects.

Read More

‘May Be Problematic’: New Study Highlights Another Potential Roadblock for Biden’s Offshore Wind Push

Virginia Star Staff
Offshore wind farm

A new study has identified a potentially massive problem for offshore wind developments that could further hinder the Biden administration’s push for the technology.

The study, published in a scientific journal called Wind Energy Science and authored by researchers from the University of Colorado and the National Renewable Energy Laboratory (NREL), focuses on what happens when the presence of nearby wind turbines reduces wind speeds for other turbines and their ability to produce power. The researchers project that the “wake effect,” the technical name for the phenomenon, could lead to a loss of up to 38 percent of power generation at one East Coast offshore wind development.

Read More

Taxpayers May Get Stuck with Cost of Removing an Offshore Wind Farm After Biden Admin Waives Fees

Just the News
Off Shore Wind Mills

The Biden administration reportedly waived fees for an offshore wind project that are in place to ensure that the infrastructure is removed and the site reclaimed at the end of the project’s life.

President Joe Biden, as part of his climate agenda, is pushing an aggressive buildout of offshore wind projects along the East Coast. With the offshore wind industry struggling financially, the waiving of these fees raises concerns about what would happen if these companies go bankrupt and leave behind wind farms they can’t afford to remove.

Read More