The smart money is treating offshore wind power like the Ebola virus. Like that deadly contagion, the offshore wind industry's rapid and merciless collapse is spreading far and wide. Dozens of mega-offshore projects - that were once talked up with the reverence usually reserved for transcendental deities - are being quietly scrapped. Whereas the promised … Continue reading Cancelled: Investors Ditch Dozens of Mega-Offshore Wind Power Projects
Tag: Offshore wind power investment
Propaganda Overload: Offshore Wind Industry’s Costs Claims Hit Peak Delusion
The wind industry never lets facts shake the entrenched delusion that wind power is cheap and always available. One of the more troublesome facts relates to cost. Whereas the true and total cost of onshore wind power is merely exorbitant, taking these things kilometres offshore means the true cost of (occasionally) generating electricity is off … Continue reading Propaganda Overload: Offshore Wind Industry’s Costs Claims Hit Peak Delusion
Forever Cancelled: Escalating Costs Crippling Giant Offshore Wind Power Projects
The laws of economics don’t discriminate: where the costs of any venture outweigh its benefits, investors stay at home. Originally lured with the meme about wind power being free, and getting cheaper all the time, plenty of hopefuls poured cash into wind power outfits like NextEra, Avangrid and turbine manufacturers like Siemens. Lately, however, the … Continue reading Forever Cancelled: Escalating Costs Crippling Giant Offshore Wind Power Projects
Britain’s Wind Industry In Freefall: Rising Costs See More Major Projects Scrapped
The value of subsidies to wind power is falling, while the cost of erecting and operating these things has skyrocketed. The result is a complete collapse in wind power capacity investment in Britain, and elsewhere. The usual suspects are running a mile from projects that were (on paper) worth billions. While the wind industry pretends … Continue reading Britain’s Wind Industry In Freefall: Rising Costs See More Major Projects Scrapped
Bubble Bursts: Rising Costs Mean More Massive Offshore Wind Projects Scrapped
The spiralling cost of erecting ever-larger turbines at sea is matched by the spiralling costs of the raw inputs needed for the turbines themselves, which means the offshore wind power bubble has truly burst. The Sweden’s Vattenfall has just scotched a massive project proposed off the coast of Norfolk, moaning about rocketing turbine manufacturing and … Continue reading Bubble Bursts: Rising Costs Mean More Massive Offshore Wind Projects Scrapped
Cash Inferno: Offshore Wind Power Fastest Way to Squander Countless $Billions
In the absence of endless subsidies and guaranteed, fixed-price contracts (set at ludicrously high prices), the purported economic case for wind power never, ever stacks up. And the metrics are far worse out at sea. Notwithstanding the $billions in subsidies - gouged from taxpayers and/or lumped on power consumers’ crushing power bills - proposed projects … Continue reading Cash Inferno: Offshore Wind Power Fastest Way to Squander Countless $Billions
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