Renewables Investors Flee The US
After the shutdown of a major offshore wind project, and regulations against other investors are pulling out of the US market, and may not return for years, or even decades. And domestic institutional investors are walking away from the industry as well.
Revolution Wind, in the process of being built offshore near Rhode Island, was killed. Even though the builder Ørsted had nearly completed it. But it is only a modest part of a much larger problem.
The Center for American Progress says that overall, the Trump plans will trigger the loss of thousands of jobs immediately, and probably more later. Seventeen states have sued the federal government, but those cases could be in court for years, and there is no guarantee they will work.
Banks Don’t Want In
Large wind projects also need financing from outside the companies that build them. Even at the highest of interest rates, wind energy is considered too much of a risk. Banks and institutions will withhold funds until policy changes.
Wind is critical to powering America’s grid, particularly as the need for electricity has risen and will rise because of AI server farms, cryptocurrencies, and air conditioning. This means utilities will need to return to fossil fuels. This means that the pullback in the use of coal, which has gone on for years, will end.
Wind has become the most risky investment in the green industry
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