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Expensive Offshore Wind in Jeopardy in a Trump Administration
Offshore wind is much more expensive than onshore wind with costs to build at 4.5 times the cost of natural gas generation and operational costs at 2.3 times. President-elect Trump recognizes offshore wind’s high costs and limited utility and is likely to end its massive subsidies promulgated by the Biden-Harris Administration. Immediate actions available include revoking Biden’s executive order that paved the way for higher cost, less reliable electricity. Biden-Harris officials have heaped subsidies upon offshore wind through the Inflation Reduction Act and cut corners on regulations to expedite the technology. Offshore wind has had recent catastrophic failures including broken blades that have closed beaches in a tourist town and imperiled fishermen. Biden’s Executive Order 14008 issued on February 1, 2020–only two weeks after his Inauguration– launched the offshore wind program in the United States. This is an executive order that President-Elect Trump could easily rescind on his first day in office by just issuing a counter-executive order, which would stop the onslaught of this very expensive energy being added to the U.S. grid. Another way is to remove the excessive tax credits that encourage its adoption, which would take new legislation and add time to the process. more, >>CLICK TO READ<< 18:47
