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US Offshore Wind Farms Are Being Strangled With Red Tape
This year has seen wind farm costs rise and many projects canceled as developers struggle with opaque regulations and determined opposition—but the industry is far from dead.
Before a company bids on a US project, the developer must plan the procurement of the entire wind farm, including making reservations to purchase components such as turbines and cables, construction equipment, and ships. Steep increases in commodity prices, including for steel and copper as well as in construction and operating costs, made many contracts signed years earlier no longer financially viable. These financial benefits can make building an offshore wind industry more attractive to companies that need market stability and a pipeline of projects to help lower costs—projects that can create jobs and boost economic growth and a cleaner environment.
Or read this on Wired