Connect with us


US offshore wind farms are strangled by bureaucracy

US offshore wind farms are strangled by bureaucracy


This article is republished from The Conversation under a Creative Commons license.

The Americas' first large-scale offshore wind farms began sending electricity to the Northeast in early 2024, but a wave of wind farm project cancellations and rising costs have left many doubtful of the future of the industry in the United States.

Several big players, including rsted, Equinor, BP and Avangrid, have canceled contracts or sought to renegotiate them in recent months. By withdrawing, companies faced cancellation penalties ranging from $16 million to several hundred million dollars per project. It also led Siemens Energy, the world's largest manufacturer of offshore wind turbines, to anticipate financial losses of around $2.2 billion in 2024.

In total, projects canceled by the end of 2023 are expected to total more than 12 gigawatts of electricity, or more than half of the project reserve capacity.

So what happened, and can the U.S. offshore wind industry recover?

I direct the Lowells Center for Wind-Energy Science, Technology, and Research (WindSTAR) and the Center for Energy Innovation at the University of Massachusetts, and I follow the industry closely. The offshore wind industry's problems are complex, but they are far from dead in the United States, and some policy changes could help it find firmer footing.

A cascade of approval challenges

Getting offshore wind projects permitted and approved in the United States takes years and is fraught with uncertainty for developers, even more so than in Europe or Asia.

Before a company bids for a U.S. project, the developer must plan the acquisition of the entire wind farm, including making reservations for the purchase of components such as turbines and cables, construction equipment and ships. Bidding must also be cost competitive, so companies tend to bid low and fail to anticipate unexpected costs, adding to financial uncertainty and risk.

The winning U.S. bidder then purchases an expensive maritime lease, costing hundreds of millions of dollars. But it does not yet have the right to build a wind project.

Before beginning construction, the developer must conduct site assessments to determine what types of foundations are possible and identify the scale of the project. The developer must enter into an agreement to sell the electricity it produces, identify a point of interconnection to the electricity grid, and then prepare a construction and operation plan, which is subject to further environmental review. This all takes about five years and it's just the beginning.

For a project to move forward, developers may need to obtain dozens of permits from local, tribal, state, regional and federal agencies. The federal Office of Ocean Energy Management, which has jurisdiction over seabed leasing and management, must consult with agencies that have regulatory responsibilities over different aspects of the ocean, such as the armed forces, the Environmental Protection Agency and the National Marine Fisheries Service. as well as groups including commercial and recreational fishing, indigenous groups, shipping, port managers and landowners.




The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos


to request, modification Contact us at Here or [email protected]