Wind Energy Is In Deep Trouble

Wind energy in the US was already in trouble. Several wind energy firms have pulled out because a promising future has disappeared. Private capital believes the sector is too risky. After one blow from the Trump Administration, the industry has been hit by another, 

According to Axios, “Trump officials just took their most aggressive step to thwart offshore wind by stopping ongoing construction of Empire Wind, a big project off New York’s coast.” 

“@Interior, in consultation with @HowardLutnick, is directing @BOEM to immediately halt all construction activities on the Empire Wind Project until further review of information that suggests the Biden administration rushed through its approval without sufficient analysis,” the Interior Secretary posted on X. For the parts of the industry that are financially leveraged, it means a long period of no revenue, and therefore no capacity to handle debt service. 

Industry Already In Need Of Money

The news stings the industry widely because several offshore wind energy installations are already in place or are being built. 

According to EIA, wind energy accounted for approximately 10.2% of total electricity generation in the US during 2023. As more AI server farms come online and the rising need for air conditioning strains the grid and current sources of electricity, the chances that coal will be brought back as a substitute are high. And, that means more greenhouse gas emissions.

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