https://wsj.com/business/energy-oil/americas-offshore-wind-ambit…
Soaring costs are pushing up the price of big wind-power projects, challenging the country’s shift to renewable energy and potentially leading to larger-than-expected bills for residents.
New York state officials in recent days unveiled a slate of wind-farm proposals that would result in higher electricity rates for residents than previously approved plans. That has firms behind older bids rushing to see if they can resubmit their plans at or near the new rate.
The projects are among the country’s biggest and are being closely watched because they show how a nascent industry that is key to the U.S. energy transition will work through the upheaval of escalating costs. The struggles are threatening delays in the current pipeline of projects, which analysts say could hamper the Biden administration’s offshore wind ambitions.“It’s going to be a tricky 12 to 18 months for the sector,” said Harry Boyle, a portfolio manager at Impax Asset Management, which invests in companies including clean-energy firms.
@9GLMKRY6mos6MO
Rising costs of renewable resources reduce our chances of lowering our carbon emissions in a timely manner.
@9GLJTXS6mos6MO
If prices keep being raised, WE WILL ALL BE BROKE!
@9GLPPRV6mos6MO
This is bad. We need to be making alternative energy cheaper in order for it to be more acceptable as an alternative.
@9GLKBVC6mos6MO
These prices are preventing us from switching to renewable energy.
@PupBillLibertarian6mos6MO
@9GLPN4R6mos6MO
Lower prices on Renewable energy sources
@9GLTTWP6mos6MO
Its pretty cool, I like giant wind thingies
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