The offshore wind industry is now in turmoil, with experts taking the under on the 30GW government target - did we hit peak doom or is there another storm?
Can't help thinking the government should be putting this kind of emphasis towards nuclear (especially since it takes a fair amount of time to build out, even SMRs).
That's what I think as well, we'd get a lot of baseload electricity throwing so much money toward nuclear. I actually had a section dedicated to that point, but I opted to keep it out to keep the focus on wind and not make it too long. I may release it as a separate article at some point.
Here in Texas there's a LOT of wind turbines which are helpful at times but I think it's been more of a money grab by landowner royalties and subsidized installations. Solar has worked quite well here though as it's at it's peak output when it's needed in these blast furnace summers.
Inflation has affected all energy technologies, not just wind. Have you been watching global gas/LNG prices, or crude oil? Material & labour cost increases are real, as are interest rate hikes and higher cost of capital. Wind/solar PPAs and strike prices need to reflect these realities, in the same way that gasoline prices go up when oil rises and wholesale electricity prices rise when marginal natural gas generation becomes more expensive.
Yes, I keep my eye on the oil and natural gas prices(albeit not as in depth as you), as they are upstream of everything including renewable costs! And I totally agree, we will have to keep a close eye on inflation trends and swings, especially energy inflation, as well as the interest rates which is why I spend so much time on the macroeconomy in my research.
Can't help thinking the government should be putting this kind of emphasis towards nuclear (especially since it takes a fair amount of time to build out, even SMRs).
That's what I think as well, we'd get a lot of baseload electricity throwing so much money toward nuclear. I actually had a section dedicated to that point, but I opted to keep it out to keep the focus on wind and not make it too long. I may release it as a separate article at some point.
Here in Texas there's a LOT of wind turbines which are helpful at times but I think it's been more of a money grab by landowner royalties and subsidized installations. Solar has worked quite well here though as it's at it's peak output when it's needed in these blast furnace summers.
Inflation has affected all energy technologies, not just wind. Have you been watching global gas/LNG prices, or crude oil? Material & labour cost increases are real, as are interest rate hikes and higher cost of capital. Wind/solar PPAs and strike prices need to reflect these realities, in the same way that gasoline prices go up when oil rises and wholesale electricity prices rise when marginal natural gas generation becomes more expensive.
Yes, I keep my eye on the oil and natural gas prices(albeit not as in depth as you), as they are upstream of everything including renewable costs! And I totally agree, we will have to keep a close eye on inflation trends and swings, especially energy inflation, as well as the interest rates which is why I spend so much time on the macroeconomy in my research.