- Low cost oil and gas prices;
- Delays in federal approvals of projects;
- Delays by Congress in extending a production tax credit extension creating uncertainty and delays among developers and utilities.
US Offshore Wind Development Still On Hold
It is a case of the glass being half-empty or half full. Half empty because the US development of offshore wind power is taking a regulatory buffeting delaying construction. But the glass is also half full, as offshore windpower’s tremendous potential could invigorate US marine industries, as well as providing green power to the grid.
By Stas Margaronis, AJOT
As Europe and China move ahead with the development of offshore wind farms, the US industry faces “headwinds” that continue to delay wind farm construction.
Speaking at the Green Power Offshore Wind Power conference in Boston on February 22, Brian Redmond managing director of CP Energy Group, noted the industry’s problems include: