{"id":331772,"date":"2024-06-06T09:25:31","date_gmt":"2024-06-06T07:25:31","guid":{"rendered":"https:\/\/climatescience.press\/?p=331772"},"modified":"2024-06-06T09:25:33","modified_gmt":"2024-06-06T07:25:33","slug":"the-renewable-green-energy-disaster-off-the-northeastern-us-is-getting-worse","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=331772","title":{"rendered":"The renewable green energy disaster off the northeastern US is getting worse"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

<\/p>\n\n\n\n

Less than one per cent of the way to the Biden 2030 target<\/mark><\/em><\/strong><\/p>\n\n\n\n

Aslow-motion collapse in the offshore wind industry continues to grow as sticky inflation and supply chain challenges force developers to delay or cancel major projects. In particular, progress towards the Biden administration\u2019s goal of building large amounts of floating wind off the northeastern US coast is just about stalled. The Telegraph<\/a> has the story.<\/p>\n\n\n\n

Shell, which  invested in a series of offshore wind projects in recent years, including offshore the northeastern United States, announced last week it would lay off much of its offshore wind business staff as the oil giant advances its program of refocusing on its core oil and gas business.<\/p>\n\n\n\n

\u201cWe are concentrating on select markets and segments to deliver the most value for our investors and customers,\u201d a Shell spokesperson told Bloomberg<\/a>. \u201cShell is looking at how it can continue to compete for offshore wind projects in priority markets while maintaining our focus on performance, discipline and simplification.\u201d<\/p>\n\n\n\n

Wind turbine maker Siemens Gamesa announced<\/a> even bigger layoffs, saying it would cut 15 per cent of its global staff to adjust to a slowing market. The announcement comes after the company reported a \u20ac4.6 billion loss for 2023, a losing trend that has continued over the first half of 2024.<\/p>\n\n\n\n

\u201cOur current situation demands adjustments that go beyond organizational changes. We have to adapt to lower business volumes, reduced activity in non-core markets, and a streamlined portfolio,\u201d said outgoing CEO Jochen Eickholt in a letter to staff. <\/p>\n\n\n\n

On May 29 came survey results<\/a> compiled by London-based energy consultancy Westwood indicating the global floating offshore wind industry is likely to deliver less than 3 gigawatts (GW) of new floating generation capacity by 2030, and a total of roughly 10 GW by 2040. Westwood cites lack of standardization of floating technology (55 per cent), manufacturing capability and capacity (51 per cent) and port infrastructure (50 per cent) as the primary impediments. <\/p>\n\n\n\n

In light of the industry\u2019s gloomy outlook, Westwood notes that \u201ccalls are ringing out for governments to provide more specific policy and regulatory support for technology development in addition to cost reduction and investment in port infrastructure to accelerate adoption.\u201d<\/p>\n\n\n\n

This is completely predictable, since the voracious rent-seeking wind business invariably calls for more government largesse in response to any challenge that arises. Unfortunately, the call is too often answered by policymakers who have made big political bets on being able to show off arrays of mammoth windmills floating atop various oceans and seas, intermittently producing some electricity \u2013 generally 25-30 per cent of nominal plant capacity over time.<\/p>\n\n\n\n

This latest bad news for offshore wind could become especially troublesome for US President Joe Biden\u2019s re-election campaign, since he has invested so much of his personal political capital in pushing a major buildout of floating offshore wind in the Atlantic northeast. A 2023 Department of Energy\u00a0fact sheet<\/a>\u00a0sets the administration\u2019s goal of installing 30 GW of offshore wind capacity by 2030 for the US alone, exceeding Westwood\u2019s just estimated potential for\u00a0global\u00a0<\/em>new capacity by that year by a factor of 10 times over.\u00a0<\/p>\n\n\n\n

Read the full story here.<\/a><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Less than one per cent of the way to the Biden 2030 target<\/p>\n","protected":false},"author":121246920,"featured_media":331776,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","_crdt_document":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691819630,691829020,691823284,691819094,691818772],"class_list":{"0":"post-331772","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-uncategorized","8":"tag-energy-crisis","9":"tag-northeastern-us-coast","10":"tag-offshore-wind-industry","11":"tag-renewable-green-energy","12":"tag-u-s-president-joe-biden","14":"fallback-thumbnail"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/06\/00-wind-turbine-catches-fire.jpg?fit=1280%2C720&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1oja","jetpack-related-posts":[{"id":298395,"url":"https:\/\/climatescience.press\/?p=298395","url_meta":{"origin":331772,"position":0},"title":"Environmental Laws That Impeded Pipelines For Years Could Trip Up Biden\u2019s Sprint Toward Offshore Wind","author":"uwe.roland.gross","date":"25\/01\/2024","format":false,"excerpt":"Environmental rules and regulations that activists have used for years to drown disfavored infrastructure projects in litigation are now threatening a key pillar of President Joe Biden\u2019s massive climate agenda.","rel":"","context":"In \"climate agenda\"","block_context":{"text":"climate agenda","link":"https:\/\/climatescience.press\/?tag=climate-agenda"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0Biden_Offshore_Wind_65504-scaled-1.jpg?fit=1200%2C800&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0Biden_Offshore_Wind_65504-scaled-1.jpg?fit=1200%2C800&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0Biden_Offshore_Wind_65504-scaled-1.jpg?fit=1200%2C800&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0Biden_Offshore_Wind_65504-scaled-1.jpg?fit=1200%2C800&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0Biden_Offshore_Wind_65504-scaled-1.jpg?fit=1200%2C800&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":287316,"url":"https:\/\/climatescience.press\/?p=287316","url_meta":{"origin":331772,"position":1},"title":"Scorched Earth: Subsidised Wind & Solar Wreaking Economic Havoc\u00a0Everywhere","author":"uwe.roland.gross","date":"09\/11\/2023","format":false,"excerpt":"The renewable energy industry is in full collapse mode this week. First, Orsted A\/S, the world's largest offshore wind farm developer, abandoned two major US projects due to supply chain and interest rate impacts, and now solar stocks are being clubbed like a baby seal in US premarket trading on\u2026","rel":"","context":"In \"BP\"","block_context":{"text":"BP","link":"https:\/\/climatescience.press\/?tag=bp"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/image-265.png?fit=1024%2C1024&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/image-265.png?fit=1024%2C1024&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/image-265.png?fit=1024%2C1024&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/image-265.png?fit=1024%2C1024&ssl=1&resize=700%2C400 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