Image by ThankYouFantasyPictures from Pixabay
By Jo Nova
Kathryn Porter in The Telegraph, has compiled quite the list of failures as offshore wind projects get frozen around the world. Decisions are being delayed, contracts abandoned, auctions left without bidders and almost no new projects started. The awful truth of inflation, the maintenance cost shocks and cable failures is all too much. Then there was the problem of needing a 100 years of copper, nickel and lithium production before Christmas.
It’s all been kept quiet. Who knew there were no offshore wind investments in the EU last year, apart from a few floating projects?
After years of subsidies, wind power was meant to get cheap enough to be profitable and competitive all by itself, instead, 25 years later, it just needs bigger subsidies. When the great oil and coal price crunch came, wind power was supposed to rise through the ashes, instead we discovered that wind turbine and battery factories needed cheap coal and oil like the rest of the economy.
Right now Australia has no offshore wind turbines and is about to jump onto a burning ship:
The myth of affordable green energy is over
