Tag Archives: Horizon Wind Power
‘These Waters Are Hot’: U.S. Auction Opens Up Offshore Wind Farm Rush
When the U.S. last auctioned big plots of ocean to companies that wanted to build offshore wind farms a few years ago, it raked in a then-record-setting haul of $405 million. That’s set to be obliterated Wednesday,,, “We expect high bids, potentially the highest on record.” While the Trump administration only held two lease sales for offshore wind areas in four years, President Joe Biden has said he wants enough offshore wind farms to power 10 million homes by 2030 and is planning six more auctions from California to the Carolinas. Not everyone is excited about the prospect of hundreds of new turbines,,, There’s also another potential problem with a record-setting sale: power prices. Since developers will eventually be passing on the costs of building the wind farms to the homeowners and businesses that buy the electricity they generate, bidding wars and high prices for the tracts of ocean could eventually boost the price of that power. >click to read< 13:58