From Reuters 12.22.23
US offshore wind poised for success next year after turbulent 2023
The U.S. offshore wind industry is eying a brighter 2024, with work expected to start on several projects following a year marked by stalled developments and billions of dollars in write-offs.
Next year, developers hope to revive projects with canceled or threatened power sales contracts by bidding their facilities in upcoming solicitations in several states, including New York, New Jersey, Massachusetts and Connecticut.
"While auction clearing prices may increase, states appear to remain committed to clean energy goals," said Eli Rubin, senior energy analyst at energy consulting firm EBW Analytics Group.
There were only two small offshore wind projects operating in the U.S. at the start of 2023, one in Rhode Island and another in Virginia, with total capacity of just 41 megawatts (MW). Capacity is set to jump to almost 1,000 MW in 2024 as commercial-scale projects off New York and Massachusetts enter service.
From ecoRI News 12.14.23
Offshore Wind Industry Plans Comeback in 2024 After Battering by Economic Tsunami Since 2020
The promise of scores of wind turbines fixed to the ocean floor offers hope for renewable electricity for the 40% of Americans living closest to the country’s windy coasts. Global events gave the offshore wind industry a hard smackdown starting in 2020, leading to postponements and cancellations of projects.
In addition to the five-turbine Block Island Wind Farm, the first commercial project in the United States, two other new northeastern offshore wind projects have steel in the water: South Fork, based on Long Island, N.Y., producing electricity for New York; and Vineyard Wind, based in New Bedford, Mass., under construction and expected to begin pumping electricity soon.
From Pew Trusts 11.28.23
As States Advance Clean Energy Projects, 2024 Looms as Pivotal Year
The U.S. is on the cusp of a major transition to clean energy, and 2024 is shaping up to be a critical year for the successful deployment of the technologies that will drive that transition. According to the White House, over $300 billion in federal funding from the 2022 Inflation Reduction Act and 2021 Bipartisan Infrastructure Law has already been delivered to states and localities in the form of grants and tax incentives. The onus is now on states, local officials, developers, utilities, and community stakeholders to continue to take advantage of these new and existing resources. This will require the creation of policy incentives, community engagement, industry investment, and utility commitments to clean energy.
States and industry alike should support three promising and necessary decarbonization pathways— offshore wind, an electric vehicle charging network, and electric grid infrastructure updates—to boost economic development throughout the U.S. and provide benefits to communities, consumers, and the climate.
From Inside Climate News 12.21.23
Do Wind Farms Really Affect Property Values? A New Study Provides the Most Substantial Answer to Date
For years, opponents of wind energy development have argued that the projects lead to a decrease in property values, despite the companies proposing the projects saying there was almost no evidence to support such claims.
A new paper published in the journal Energy Policy is likely to shake up this debate with its finding that properties within a mile of a proposed wind farm experience an average decrease in value of 11 percent following the announcement of the project, compared to properties located three to five miles away.
The decrease in property value begins after the wind farm is announced and continues during construction. But the difference fades away a few years after the project is operational to the point that properties within a mile of a project have values that are indistinguishable from those three to five miles from a project.