A few years ago, Governor Sununu got a whiff of some Federal Wind Money up his skirt, and New Hampshire’s been fondling the idea ever since. But much bluer states with much bluer governors have decided that there’s no way to get there from here )and Bidenomics is partly to blame).
The next time some proglodyte tells you inflation isn’t as bad as “some people” say, don’t open with food prices or gas. Use wind. Inflation and material costs are making it impossible for the developers to move forward, but the deals they want would bankrupt ratepayers and cost billions in subsidies and tax credits. Even tax and spend states like New Jersey, and Maryland are shuddering at the price tag to move forward. A problem the wind idiots in New York have come to discover isn’t going away and cannot be justified.
New York’s signature offshore wind projects meant to boost confidence in the industry are being scrapped, a major hit to the industry in the state and the nation.
The decision is another setback to New York’s aspirations to achieve 70 percent renewable energy by 2030 and be a hub for the nascent industry in the United States. It will also be another challenge for President Joe Biden’s already likely out-of-reach 30 gigawatt goal for offshore wind by 2030.
Wind isn’t off the table, but as we reported previously, it’ll take some political capital, by which we mean politicians’ commitment to screwing ratepayers to get signature projects (intended to meet meaningless emissions reduction targets) back on track.
The newly-contracted projects are also expected to increase utility rates in the state. Residential electricity rates are expected to jump by $6.84 per month, commercial rates will increase by $58.73 per month, and monthly industrial rates will rise by $513.22, according to E&E News.
As I noted in the linked piece, these are lowball numbers. Given the trajectory of the economy, the industry, and global suppliers, these rates won’t survive construction, let alone completion. Ratepayers in Maryland (and New Jersey, where the Gov. is still trying to make wind happen) are going to get fiscally raped. It’s going to become difficult to impossible to do business there, which means price hikes to stay in business on top of the already rising prices.
The rising cost of offshore has had some positive effects.
In North Carolina, the latest long-term energy plan from Duke Energy drops offshore wind entirely in favor of nuclear, solar, and onshore wind. Furthermore, Duke has committed to only close any existing power plants once replacements are in operation, an idea that other states should follow. Two new offshore wind lease areas in the Gulf of Mexico failed to attract a bid. Vineyard Wind off Nantucket has begun construction but faces three unresolved lawsuits.
Nuclear has gained favor, but only because the not-so-green energy revolution has driven costs so high that it is not affordable by comparison. We could make Nuclear more affordable if the powers that want us to live in the dark rolled back some of the regulatory burdens enacted, not out of safety but to kneecap the industry, which they did.
It’s nuts how the all-electric-crazies could get a lot closer to their fantasy sooner, but that the easiest way to get there is a boogeyman (nuclear) they’ve been scaremongering for nearly fifty years. But here in New Hampshire, they are still chasing an offshore wind project that only becomes viable (to the vendor) if the states involved (ME, NH, Maybe MA) agree to rape ratepayers for the privilege.
I hope that’s not the plan because none of the factors causing Blue states to bail on Offshore wind are going away anytime soon.
