2023 was the year when the offshore wind industry’s grand implosion began. Major investors bailed out as the insane cost of attempting to (occasionally) generate electricity with no commercial value in hostile marine environments began to bite. Dozens of projects have been scrapped and others are now highly doubtful. And for those wind power outfits … Continue reading Shipwrecked: America’s Offshore Wind Industry Being Crushed By Rising Construction Costs
Tag: Capital cost offshore wind power
Wanton Waste: World’s Largest Wind Farm = World’s Largest White Elephant
Want to make a small fortune? Then take a large one and put it into offshore wind power. The costs of generating sporadic electricity using wind are staggering; doing so offshore makes them astronomical. And, it seems, the bigger the boondoggle, the more costly it becomes for the unwitting taxpayers, who are always left to … Continue reading Wanton Waste: World’s Largest Wind Farm = World’s Largest White Elephant
Totally Torched: Low-Cost Offshore Wind Power Claims Go Up In Smoke
Europe’s great wind drought continues, unabated. Adding to the wind industry’s woes, its claims that offshore wind power is ‘free’ and getting cheaper all the time have been totally torched - again. Over the last two years, Andrew Montford has been keeping a close eye on the financial reports produced by the UK’s offshore wind … Continue reading Totally Torched: Low-Cost Offshore Wind Power Claims Go Up In Smoke
Burning Cash: (Occasional) Offshore Wind Power More Than Six Times Cost of (Constant) Gas-Fired Power
The true cost of wind power is staggering - the cost of offshore wind power is astronomical: the latter is more than six times the cost of gas-fired power. The operating cost of maintaining any industrial machine in a marine environment starts out high and only increases over time, thanks to the corrosive power of … Continue reading Burning Cash: (Occasional) Offshore Wind Power More Than Six Times Cost of (Constant) Gas-Fired Power
Transmission Break: Frequently Faulty Cables Costing Offshore Wind Power Generators Hundreds of $Millions
Turns out offshore wind power is more financial heartbreak than cash cow. Thanks to the phenomenal cost of repairing its undersea cables, Denmark’s Orsted is literally bleeding cash. The cost of fixing faulty cables connecting their turbines to each other and transmission facilities onshore is already in the hundreds of $millions, and set to rise … Continue reading Transmission Break: Frequently Faulty Cables Costing Offshore Wind Power Generators Hundreds of $Millions
Burning Yen: Japanese Government Scraps Last Wind Turbines in Failed $580 Million Offshore Project
Apart from literally burning cash, there is no faster way to squander money than by piling it into an offshore wind power project. It's hardly news that the true cost of generating electricity using wind power is staggering; the cost of doing so offshore is astronomical. But don’t take our word for it, the Japanese … Continue reading Burning Yen: Japanese Government Scraps Last Wind Turbines in Failed $580 Million Offshore Project
Boris Blown Away: True Cost of PM’s Offshore Wind Power Plan is Absolutely Staggering
A MW of intermittent offshore wind power capacity costs up to 17 times the cost of a thoroughly reliable MW of gas-fired power generation. And, whereas, the latter is available around-the-clock, the former is available when Mother Nature deems fit. And she tends to be a temperamental, old cow. One particular wheeze among Britain’s renewable … Continue reading Boris Blown Away: True Cost of PM’s Offshore Wind Power Plan is Absolutely Staggering
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