Benjamin Storrow and Heather Richards of E&E News report on how inflation is stalling offshore wind projects.
- Wind developers that bid aggressively to win offshore wind contracts are locked into agreements that did not account for rising costs and inflation, which is halting progress.
- Analysts expect the United States to fall 3 to 4 GW short of its 2030 offshore wind goals due to these issues.
- Good economic policies are good climate policies because they keep the cost of clean technologies affordable and incentivize innovation.
- By pursuing policies rooted in economic freedom lawmakers can achieve economic competitiveness and climate goals.
Read the full article here.