POLITICO Energy Why the offshore wind industry may be on the verge of collapse
Feb 4, 2025
The offshore wind industry in the U.S. faces a critical moment as political decisions threaten its future. New Jersey has opted out of funding new projects, while an executive order aims to halt wind development. Environmental groups express frustration over these setbacks, putting clean energy commitments at risk. Despite these challenges, places like New York and Virginia present some hope for growth in the sector. The landscape is shifting, and the podcast dives into what these changes could mean for the industry moving forward.
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Previous Discussions of Offshore Wind Woes
- Ry Rivard has discussed the offshore wind industry's struggles on previous podcasts.
- This episode focuses on the latest setback: New Jersey halting financial support for new projects.
Impact of Funding Halt
- New Jersey's pause on funding new offshore wind projects is a significant blow to the industry.
- This impacts Atlantic Shores, which was expected to be the state's first such project, despite having federal permits.
Political Opposition to Atlantic Shores
- Atlantic Shores, needing additional funding, faced opposition from Rep. Jeff Van Drew and President Trump.
- This situation presents a win for Trump, although other factors like supply chain problems and inflation have also hampered the industry.