OT: Coming to a beach near you in NJ and NY
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"Orsted said the company's discussions with "senior federal stakeholders" on obtaining more U.S. tax credits for its offshore wind projects had not progressed as expected, which in turn could lead to impairments of another 6 billion crowns."
How many American jobs, outside of the Murphy family, will these tax credits bring to NJ?
I guess whale corpse removal could be big business.
"Once they are in the ground, the blades will remain there essentially forever - they do not degrade or break down over time."
Cool!
Cool!
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NJ can be the windmill super dump. Thanks greenies! You're so smart!
I’m confused as to which whale we are talking about.Has anyone studied the impact on THE Whale?
There seems to be new technology to recycle the turbine blades.
You think the government isn't subsidizing solar?
Heavily subsidized by federal and state tax credits. Show your work.
NJ's project is about to collapse. Political knees are buckling.
Should put these things in Wisconsin; take advantage of the non-stop gusts coming from the air-raid
And cutting all that cheese!! C'mon RU Cheese, that was too easy for a screen name with cheese in it!!! Sorry for the cheesy joke. Please don't grill me about it.
To incentivize. It can easily stand on its own these days.
Is the tide turning as the death tolls mount?
"a recent Monmouth University poll shows that support for offshore wind energy has plummeted across New Jersey since February, goaded by political divisions and claims that seafloor mapping for future wind turbines could lead to whale deaths along New Jersey."
"Among New Jersey Republicans, support for offshore wind fell to 28%, down from 69% four years ago, according to the poll. Over that same time, support among independents dropped from 77% to 52%. A majority of Democrats remain in favor of offshore wind, yet their support dipped slightly, from 79% to 76%, according to Monmouth University.
Republicans and Democrats were also split on whether offshore wind was connected to recent whales deaths along New Jersey's coast. Nearly half of New Jersey residents believe offshore wind either definitely (20%) or probably (25%) contributed to the whale strandings, according to the poll. In comparison, only 10% said offshore wind was definitely not a factor in the deaths."
"a recent Monmouth University poll shows that support for offshore wind energy has plummeted across New Jersey since February, goaded by political divisions and claims that seafloor mapping for future wind turbines could lead to whale deaths along New Jersey."
"Among New Jersey Republicans, support for offshore wind fell to 28%, down from 69% four years ago, according to the poll. Over that same time, support among independents dropped from 77% to 52%. A majority of Democrats remain in favor of offshore wind, yet their support dipped slightly, from 79% to 76%, according to Monmouth University.
Republicans and Democrats were also split on whether offshore wind was connected to recent whales deaths along New Jersey's coast. Nearly half of New Jersey residents believe offshore wind either definitely (20%) or probably (25%) contributed to the whale strandings, according to the poll. In comparison, only 10% said offshore wind was definitely not a factor in the deaths."
Wow, that sounds like a lot!
Pay up bitches! Big Wind is such a scam.
It’s just not wind power construction cost that increase substantially. The Georgia nuclear power plant was originally $12 billion and now $30 billion. Electric power cost money.
Delayed for a few years!! Great news
How so? I don't want it, i'm happy its delayed.
Some commentary from a local blog.
| Ocean Wind 1 - the project off our coast - has been delayed and won’t be operational until sometime in 2026, according to Orsted It was originally supposed to be up and running in 2024, then it was delayed until 2025, now it is delayed until 2026 Orsted cites 3 reasons for the delay: 1) supply chain issues, 2) lack of additional tax credits from the US government, 3) high interest rates Future wind projects at earlier stages in development by Orsted appear to be in jeopardy Orsted has profitability concerns and is seeking a 40% tax credit on their investment from the US government vs. the 30% they are currently set to receive Last month, New Jersey approved an additional ~$1 billion in tax credits to Orsted— those credits were originally supposed to go to utility customers |
| Deeper dive: There are several planned wind projects off the East Coast of the United States. Ocean Wind 1 is the first major project in New Jersey, and it has received many green lights from regulatory bodies and the state. |
| Other projects, however, have faced hurdles for various reasons. There is plenty of public pushback, especially along coastal communities (as you are well aware). |
| Some of these projects, including Ocean Wind 1, began planning prior to the pandemic. Since then, supply chain issues, inflation, and higher interest rates have made it much more difficult for Orsted to operate profitably— something that already required government tax credits. |
| This summer, Orsted threatened to pull manufacturing jobs from New Jersey and bring them overseas if they weren’t given additional tax credits from the state. |
| Governor Murphy rolled over and signed a bill giving Orsted nearly $1 billion in additional credits. These were supposed to go to utility customers. |
| Clearly that wasn’t enough, though, because Orsted is still pushing for additional credits. They want a 40% credit on their investment vs. the 30% they are currently set to receive, and there is an implicit threat that they may abandon all projects if they don’t get it. |
| Our take: Even proponents have said that for offshore wind to make a meaningful impact on the electrical grid it will require large-scale investments up and down the coast. Think thousands of windmills, not hundreds. |
| While Ocean Wind 1 is on the leading edge of the country’s desire for offshore wind, it only represents 98 windmills. If other projects are increasingly less likely to move forward, then why, on Earth, would you experiment with a one-off on one of the most densely populated, tourist-heavy section of beaches in the country, in a county with the country’s most expensive second homes? |
| The plan was for windmills to dot the coast from Massachusetts to Carolina. That would have generated a meaningful amount of electricity. Your stance on windmills as a source of clean energy aside, if a large-scale rollout is almost certainly off the table for various reasons, then why allow this single project to move forward and serve as an expensive beacon for a failed initiative? |
Two points- Orsted seem like typical corporate scumbags that looked to get in on the deal and then blackmail and hold the stakeholders hostage, crying corporate poverty and demanding more tax credits, and then more tax credits. F them. Too much corporate welfare doled out by the government in this country at both federal and state levels. Certain industries have gotten way too cozy and close to the federal government and have gotten way too many tax breaks and corporate favors. Only two candidates for President have been railing against this, neither of which as a chance of being elected, as they have their own issues-- RFK Jr and Cornel West (Green Party).
Second point- the choice of placement was indeed odd. Not sure if it would be too disruptive to shipping and commerce, but why not in an area that would have less of an impact on tourists and beaches, such as offshore from the Raritan Bay?
It's a wind farm. To be reasonably effective requires... ya know... wind.
In Raritan Bay there often is none.
Add to that the fact that Raritan Bay is a heavy shipping bottleneck and introducing additional hazards to navigation would be unwise.
They will be visible from the beach. It’s going to be horrible.
There's no really good reason why you don't want it.
The whale thing is ********. There's little chance it interferes with your life in any way.
Great news! Hopefully they keep up the pressure to put this scam to bed permanently.
I noted the shipping channel, and note that I said "offshore" from the Raritan Bay, not in the bay itself.
Seems to be a **** ton of sailboats in the Raritan Bay. I'm aware of your sailing knowledge. But are all those sailboats there not getting any wind?
As promised, the "delays" have begun. Trenton got scared of the backlash and the only person still pushing the plan is a lame duck. Not hard to do the political math here. LOL!
Orsted will be bankrupt pretty soon. This is another reason for Trenton's delay. Why push an unpopular project that likely can't be completed as promised? Even if it had the required political will behind it, it will be a massive boondoggle (NJ's Big Dig). Lose-lose situation for those in Trenton that want to keep their state positions.
I offered my most brilliant solution and will offer it again. Put the windmills where American Dream stands! That will be gone soon, and seems like a perfect repurposing of a dead asset and useless mass of land. To boot, it will keep tailgaters cool in the hot summer and early fall months at concerts, Jets and Giants games. Let's make it happen!!!
I noted the shipping channel, and note that I said "offshore" from the Raritan Bay, not in the bay itself.
Seems to be a **** ton of sailboats in the Raritan Bay. I'm aware of your sailing knowledge. But are all those sailboats there not getting any wind?
The boats are kept in the bay because it's sheltered.
Every year the Raritan Yacht Club sponsors a July regatta called the Red Grant Regatta, named after some old dead sailor.
The old, live sailors call it "the Dead Grant". I've done that event half a dozen times and can recall just as many days when we sat on the boat waiting for enough wind to actually have a race and none came.
The very best conditions in the upper bay (Perth Amboy-ish) will average around 8 kts of wind. The very best conditions in the bay mouth (Highlands, the Hook) will get you 10 - 12 kts. You see 20+ knots in the bay during nor'easters and hurricanes.
The Meadowlands seem like a wonderful area for a massive windmill project. Great idea!
A group of citizens formed a group called RAGE to stop powerlines along the NJ Transit NE Corridor. The towns of Middletown, Holmdel and Hazlet made it happen. We lived one block from the Hazlet Station. It was an easy sell for commuters but not for homes with young children that were within the EMF those power lines emit. Time for the "experts" to chime in on how those EMF energy is safe for growing children. Have at it, lol. Stopping big business can be done if enough get together. If that got passed it would have killed my property value. We sold 4 years ago because I know there will be another push for it down the road and we got over market value.https://patch.com/new-jersey/middletown-nj/monmouth-residents-rage-against-jcpl-power-line-plan-0
Orsted CEO interview today - New Jersey not investible unless made-in-USA components quotas relaxed.
"We are still upholding a real option to walk away."
Source: Bloomberg
"We are still upholding a real option to walk away."
Source: Bloomberg
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