WRITTEN BY BREANNE DEPPISCH ON OCT 25, 2023. POSTED IN LATEST NEWS
Biden’s Offshore Wind Gambit Like A ‘Car Crash In Slow Motion’
offshore wind rough seasPresident Joe Biden’s ambitious goal of developing 30 gigawatts of offshore wind by 2030 is under threat due to soaring costs, supply chain setbacks, and regulatory hurdles that have stymied developers and forced some to abandon contracts.
Combined, the conditions have created a perfect storm for developers in the United States, forcing a near-term existential crisis for the industry as government officials and industry leaders work to confront a cascading series of challenges, including poorly negotiated power purchase agreements, an underdeveloped offshore supply chain, and high project costs that have ballooned amid rising global demand and unanticipated global crises. [emphasis, links added]
For outside observers, this is a jarring setback for an administration that has put renewable energy at the center of its agenda.
https://climatechangedispatch.com/bidens-offshore-wind-gambit-like-a-car-crash-in-slow-motion/
