• Privacy Policy
  • About Us
  • Contact Us
Climate Change Dispatch
  • Home
  • Videos
  • Who We Are
  • Facts Vs. Fearmongering
    • Real science vs Junk Science
      • 1100-plus Peer-Reviewed Studies
      • 97% – Myth of the Climate Change Consensus
      • Michael Crichton: Aliens Cause Global Warming
      • Climate change and its causes
      • Climate Science Primer
      • CO2 is not pollution
      • Deceptive Surface Temperature Records
      • Editorial: Great Global Warming Hoax
      • Rules for Climate Radicals: Part 1
      • Rules for Climate Radicals: Part 2
      • Rules for Climate Radicals: Part 3
      • Why CO2 Is A Minor Player In Global Climate
      • Why Politicized Science Is So Dangerous
    • Facts Not Fear
      • A Simple Question For Climate Alarmists
      • Climate Change – The Facts
      • Climate Change Fears Are Empirically Baseless
      • Global Warming 101
      • Global Warming Q&A
      • Understanding The Medieval Warm Period
      • Ocean Cycles and Climate
      • Overview of Plate Climatology Theory
      • Precautionary Principle
      • Should We Celebrate Carbon Dioxide?
      • The Skeptics Handbook
      • Weather Versus Climate
      • Why I’m a GW skeptic
      • Winning the climate debate with facts
      • Why Aliens Cause Global Warming
    • Greenhouse FAQs
      • CO2, Plants, & Industry
      • How much have temps changed?
      • How much have temps changed?
      • How much have temps changed?
      • Is global warming real?
      • Measuring temperature
      • Swimming in CO2?
      • Scientists urge caution?
      • Today’s warming trend
      • Variations in temperature
    • Gore’s Greatest Goofs
      • Deconstructing the Truth
      • Fact-Checking Al Gore’s Latest Predictions
      • How Gore Created The Global Warming Hoax
    • Inside Real Climate
      • Closer look at the 97% Consensus
      • GW’s Amazing Story
      • IPCC gets failing grade
      • Real Climate Exposed!
      • Truth about Real Climate
      • We’ve Been Conned
      • What is there a 97% consensus about?
    • Behind the IPCC
      • 1,000 Scientists Dissent
      • Climategate: Caught Green-Handed!
      • Climategate Inquiries
      • Climategate Inquiries 2
      • NIPCC Report Now Available
      • Understanding the Climategate Inquiries
  • Submissions
  • Contact Us
No Result
View All Result
  • Home
  • Videos
  • Who We Are
  • Facts Vs. Fearmongering
    • Real science vs Junk Science
      • 1100-plus Peer-Reviewed Studies
      • 97% – Myth of the Climate Change Consensus
      • Michael Crichton: Aliens Cause Global Warming
      • Climate change and its causes
      • Climate Science Primer
      • CO2 is not pollution
      • Deceptive Surface Temperature Records
      • Editorial: Great Global Warming Hoax
      • Rules for Climate Radicals: Part 1
      • Rules for Climate Radicals: Part 2
      • Rules for Climate Radicals: Part 3
      • Why CO2 Is A Minor Player In Global Climate
      • Why Politicized Science Is So Dangerous
    • Facts Not Fear
      • A Simple Question For Climate Alarmists
      • Climate Change – The Facts
      • Climate Change Fears Are Empirically Baseless
      • Global Warming 101
      • Global Warming Q&A
      • Understanding The Medieval Warm Period
      • Ocean Cycles and Climate
      • Overview of Plate Climatology Theory
      • Precautionary Principle
      • Should We Celebrate Carbon Dioxide?
      • The Skeptics Handbook
      • Weather Versus Climate
      • Why I’m a GW skeptic
      • Winning the climate debate with facts
      • Why Aliens Cause Global Warming
    • Greenhouse FAQs
      • CO2, Plants, & Industry
      • How much have temps changed?
      • How much have temps changed?
      • How much have temps changed?
      • Is global warming real?
      • Measuring temperature
      • Swimming in CO2?
      • Scientists urge caution?
      • Today’s warming trend
      • Variations in temperature
    • Gore’s Greatest Goofs
      • Deconstructing the Truth
      • Fact-Checking Al Gore’s Latest Predictions
      • How Gore Created The Global Warming Hoax
    • Inside Real Climate
      • Closer look at the 97% Consensus
      • GW’s Amazing Story
      • IPCC gets failing grade
      • Real Climate Exposed!
      • Truth about Real Climate
      • We’ve Been Conned
      • What is there a 97% consensus about?
    • Behind the IPCC
      • 1,000 Scientists Dissent
      • Climategate: Caught Green-Handed!
      • Climategate Inquiries
      • Climategate Inquiries 2
      • NIPCC Report Now Available
      • Understanding the Climategate Inquiries
  • Submissions
  • Contact Us
No Result
View All Result
Climate Change Dispatch
No Result
View All Result

Offshore Wind Getting Blown Away By Inflation, Supply Chain Costs, Dwindling Enthusiasm

by Nick Pope
September 07, 2023, 10:09 AM
in News and Opinion
A A
2
Share on FacebookShare on Twitter

offshore wind coastThe U.S. offshore wind industry, key to President Joe Biden’s climate agenda, has struggled in recent months due to inflation, rising interest rates, and mounting supply chain difficulties.

Several companies involved in offshore wind projects off the East Coast have experienced financial difficulties as inflation, supply chain difficulties, and rising interest rates have hampered the sector. [emphasis, links added]

Despite the wind industry receiving considerable support from subsidies in the Inflation Reduction Act (IRA), Biden’s signature climate bill, some firms have paid large fines to get out of energy deals they signed, while one company has seen its stock price tank because of impairments to its projects.

“Biden has a top-down ‘deindustrialization policy’ in much the same way Germany did,” Dan Kish, senior fellow for the Institute for Energy Research, told the Daily Caller News Foundation.

“It’s amazing to watch politicians try to design a system that will work to replace one we know works and made us the number one economy in the world.”

The IRA featured significant tax credits and manufacturing subsidies to drive offshore wind investment from the private sector, and companies have invested more than $7 billion in offshore wind projects since the IRA became law, according to the White House.

The administration is aiming to have offshore wind provide enough energy to provide electricity for 10 million American homes by 2030 in support of its wider goals to decarbonize the American power sector by 2035 and the overall U.S. economy by 2050.

Orsted, a Danish company involved in several East Coast offshore wind projects, announced in late August that it had updated its projections for several projects, marking down their anticipated value by $2.3 billion. The next day, the company’s stock price plummeted by about 25%.

“We continue to advance our projects, including investments that are creating American energy and American jobs,” an Orsted spokesperson told the DCNF.

“Macroeconomic challenges, such as supply chain constraints and high inflation, are impacting our projects, similar to how these factors are impacting all long-term capital investments in the U.S. and around the world.”

The company’s announcement followed difficulties in talks with Biden administration officials to unlock more federal subsidies, Reuters reported.

“We are still upholding a real option to walk away” from projects, said Mads Nipper, Orsted’s CEO, Bloomberg News reported Tuesday.

Orsted was one of numerous petitioners who asked the New York Public Service Commission, the state’s utility regulator, to renegotiate terms of energy deals with utility companies. Revised agreements could feature prices nearly 50% higher than initial contracts, according to the New York State Energy Research and Development Authority.

“The wind industry was already heavily subsidized before the Inflation Reduction Act, and after the IRA, there is more money and the favoritism is greater,” Daren Bakst, director of the Competitive Enterprise Institute’s Center for Energy and Environment, told the DCNF. “The wind industry, like any industry, should stand on its own without government handouts paid for by American taxpayers.”

Prior to the IRA, wind farm operators were still able to access tax credits, according to the Department of Energy. The IRA extended and increased those existing subsidy programs to further spur the offshore wind industry.

Orsted is not the only offshore wind company involved in East Coast operations that has encountered potential financial problems.

Avangrid, a subsidiary of the Spanish firm Iberdrola, paid the Massachusetts Department of Public Utilities (MDPU) $48 million in July to get out of a deal to sell power to utility companies, CommonWealth reported.

SouthCoast Wind, another company involved in offshore wind development off of the Massachusetts coast, paid MDPU $60 million in fines to get out of a deal it had reached to sell wind-generated power to several utility companies, the Nantucket Current reported.

Read rest at Daily Caller

  • Truth
  • Twitter
  • Facebook
  • LinkedIn
  • Gettr
  • Threads
  • gab-logo Gab
  • Mastodon
  • Buffer
  • Telegram
  • Email
  • Copy Link
  • Share Using More Networks…
Share via
  • Facebook
  • Like
  • Twitter
  • Pinterest
  • LinkedIn
  • Digg
  • Tumblr
  • VKontakte
  • Print
  • Email
  • Reddit
  • Buffer
  • Love This
  • Weibo
  • Pocket
  • Xing
  • Odnoklassniki
  • WhatsApp
  • Meneame
  • Blogger
  • Amazon
  • Yahoo Mail
  • Gmail
  • AOL
  • Newsvine
  • HackerNews
  • Evernote
  • MySpace
  • Mail.ru
  • Viadeo
  • Line
  • Flipboard
  • Comments
  • SMS
  • Viber
  • Telegram
  • Subscribe
  • Skype
  • Facebook Messenger
  • Kakao
  • LiveJournal
  • Yammer
  • Edgar
  • Fintel
  • Mix
  • Instapaper
  • Copy Link
  • Truth
  • gab-logo Gab
  • Gettr
  • Baidu
  • Mastodon
  • Threads
  • Bluesky

Join our list

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.

We respect your privacy and take protecting it seriously

Related Posts

Energy

Newsom’s War On Oil Could Send California Gas Prices To $9, Analyst Warns

May 9, 2025
Energy

The Climate Scaremongers: More Lies From The UK’s Crackpot Climate Change Committee

May 9, 2025
Energy

UK’s Green Agenda Blows Up As Ørsted Kills Massive Offshore Wind Project

May 9, 2025

Comments 2

  1. 슬롯사이트 says:
    2 years ago

    I like what you guys are up too. This kind of clever
    work and reporting! Keep up the fantastic works guys I’ve incorporated you guys to blogroll.

  2. SPURWING PLOVER says:
    2 years ago

    No one wants those Bird Mamin Whal Killing Eyesores and Anyone who supports them are Traitors

Stay Connected On Social Media

gab-logo

Donate Today

Beating back the alarmist narrative takes time and money. Please donate today to help!

Recent Posts

  • newsom presser gas pricesNewsom’s War On Oil Could Send California Gas Prices To $9, Analyst Warns
    May 9, 2025
    Refinery closures and Newsom’s hostility to energy companies could push California gas prices from $6 to $9 a gallon, analyst warns. […]
  • protest time is upThe Climate Scaremongers: More Lies From The UK’s Crackpot Climate Change Committee
    May 9, 2025
    The UK’s Climate Change Committee is ramping up the panic, but real-world data shows no rise in floods, heat deaths, or costs—just more failed predictions. […]
  • yorkshire offshore windUK’s Green Agenda Blows Up As Ørsted Kills Massive Offshore Wind Project
    May 9, 2025
    Orsted scrapped the Hornsea 4 offshore wind project, dealing a massive blow to Ed Miliband’s green vision and raising questions about UK net zero targets. […]
  • ev charging station16 States, DC Sue Trump Admin Over EV Charger Funds, Most Have Built None
    May 9, 2025
    17 states sue the Trump administration for access to $5 billion in EV charger funding, despite most failing to build a single charger. […]
  • weather montageNOAA Quietly Kills Its Billion-Dollar Disaster Database And Report After Years Of Criticism
    May 9, 2025
    NOAA has quietly retired its Billion-Dollar Disaster list after years of criticism over transparency, accuracy, and scientific integrity. […]
  • german wind farmHow Wind And Solar Sent Energy Prices Sky-High in ‘Green’ Countries
    May 8, 2025
    Adding more green energy makes power more expensive, not cheaper—due to unreliable output, required fossil fuel backup, and taxpayer subsidies. […]
  • bernie sanders fox newsBernie Sanders Defends Private Jet Use, Says ‘He’s Too Important’ To Fly Coach
    May 8, 2025
    Bernie Sanders and AOC are facing criticism for using private jets while promoting their climate-focused “Fighting Oligarchy” tour. […]
  • blackout stationGreen Energy Suicide: The West Pays The Price For Its Net-Zero Delusions
    May 8, 2025
    Green energy policies clash with reality as Europe and the U.S. face blackouts, soaring costs, and a collapsing power grid. […]
  • wright trump exec orderDOE Scraps $4.5M Website And Logo Project Meant To Showcase Green Agenda
    May 8, 2025
    The DOE canceled a $4.5 million contract the Biden admin awarded for a new agency website and logo that highlighted the green energy transition. […]
  • desantis bill signing‘Dead On Arrival’: DeSantis Signs Law Banning Geoengineering And Weather Modification In Florida
    May 7, 2025
    DeSantis has signed legislation shutting down geoengineering and weather modification projects in Florida amid rising voter concerns. […]

Get Instant Email Notifications

Enter your email address to receive notifications of new posts by email either instantly or daily. Check your Junk folder for any verification emails upon subscribing.

Submit a tip

Please enter your email, so we know you're human.

Books We Like

very convenient warming

exposing great lie

Have a suggestion? Let us know! We swap out books based on your input. We participate in the Amazon Services LLC Associates Program. See here.

  • About
  • Privacy Policy
  • Contact Us

© Portions copyright Climate Change Dispatch

Share via
  • Threads
  • gab-logo Gab
  • Mastodon
  • Buffer
  • Telegram
  • Email
  • Copy Link
  • Share Using More Networks…
No Result
View All Result
  • Home
  • Videos
  • Who We Are
  • Facts Vs. Fearmongering
    • Real science vs Junk Science
      • 1100-plus Peer-Reviewed Studies
      • 97% – Myth of the Climate Change Consensus
      • Michael Crichton: Aliens Cause Global Warming
      • Climate change and its causes
      • Climate Science Primer
      • CO2 is not pollution
      • Deceptive Surface Temperature Records
      • Editorial: Great Global Warming Hoax
      • Rules for Climate Radicals: Part 1
      • Rules for Climate Radicals: Part 2
      • Rules for Climate Radicals: Part 3
      • Why CO2 Is A Minor Player In Global Climate
      • Why Politicized Science Is So Dangerous
    • Facts Not Fear
      • A Simple Question For Climate Alarmists
      • Climate Change – The Facts
      • Climate Change Fears Are Empirically Baseless
      • Global Warming 101
      • Global Warming Q&A
      • Understanding The Medieval Warm Period
      • Ocean Cycles and Climate
      • Overview of Plate Climatology Theory
      • Precautionary Principle
      • Should We Celebrate Carbon Dioxide?
      • The Skeptics Handbook
      • Weather Versus Climate
      • Why I’m a GW skeptic
      • Winning the climate debate with facts
      • Why Aliens Cause Global Warming
    • Greenhouse FAQs
      • CO2, Plants, & Industry
      • How much have temps changed?
      • How much have temps changed?
      • How much have temps changed?
      • Is global warming real?
      • Measuring temperature
      • Swimming in CO2?
      • Scientists urge caution?
      • Today’s warming trend
      • Variations in temperature
    • Gore’s Greatest Goofs
      • Deconstructing the Truth
      • Fact-Checking Al Gore’s Latest Predictions
      • How Gore Created The Global Warming Hoax
    • Inside Real Climate
      • Closer look at the 97% Consensus
      • GW’s Amazing Story
      • IPCC gets failing grade
      • Real Climate Exposed!
      • Truth about Real Climate
      • We’ve Been Conned
      • What is there a 97% consensus about?
    • Behind the IPCC
      • 1,000 Scientists Dissent
      • Climategate: Caught Green-Handed!
      • Climategate Inquiries
      • Climategate Inquiries 2
      • NIPCC Report Now Available
      • Understanding the Climategate Inquiries
  • Submissions
  • Contact Us

© 2025 Climate Change Dispatch