The costs associated with U.S. offshore wind projects have risen by 57% since 2021 due to inflation in components and labor costs, as well as rising interest rates, leading to a large number of canceled or renegotiated deals.
The recent cancellations of major offshore wind projects have erased billions of dollars in planned spending and put at least 9.7 additional gigawatts of offshore wind projects in the U.S. at risk.
Despite the financial crisis in offshore wind energy, the Biden administration is persevering with its goal of achieving 30 GW of offshore wind energy capacity by 2030.
.
.
.
>- The costs associated with U.S. offshore wind projects have risen by 57% since 2021 due to inflation in components and labor costs, as well as rising interest rates, leading to a large number of canceled or renegotiated deals.
>- The recent cancellations of major offshore wind projects have erased billions of dollars in planned spending and put at least 9.7 additional gigawatts of offshore wind projects in the U.S. at risk.
>- Despite the financial crisis in offshore wind energy, the Biden administration is persevering with its goal of achieving 30 GW of offshore wind energy capacity by 2030.
>.
.
.
[Source Article](https://www.zerohedge.com/energy/there-financial-crisis-brewing-offshore-wind-energy)
(post is archived)