Wind Power Running Out Of Energy
A mix of solar, wind, and nuclear are supposed to slow and eventually end the use of fossil fuels. In the case of wind power, especially offshore installations, the sector is in deep trouble.
Less than 10% of electricity is driven by wind turbines. Some have had problems with assembly and operation. Construction has been slowed by financing, which trades high interest rates for high risk.
According to Axios, federal ocean leases off Maryland, Delaware, and Virginia may help lift the contribution of wind energy to the national total. On the other side of the equation, according to NBC, “When it comes to new projects, global hurdles include higher borrowing costs that make it more costly to fund projects, high prices and clogged supply chains for wind turbines and blades, and “not in my backyard” resistance to wind farms.” The problem has spread beyond the US.
The wind energy problem joins a list of struggles that have plagued efforts to make power generation greener. Another is resistance to nuclear energy. Americans cannot seem to forget the meltdown at Three Mile Island in 1979. Smaller and safer nuclear installations have met resistance from people who do not want to live close to them. This, in turn, makes the issue a political problem. It is energy policy versus voter anxiety.
What is wind energy’s future? High interest rates may drop as the Fed lowers funds. Technology may improve so that institutions are less fragile. Neither is going to happen overnight.
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