Offshore Wind Industry Challenges

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offshore wind farms

Asbury Park Press

•

Technology

NJ offshore wind industry threatened by economic uncertainty, 2024 presidential election

Summary

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87% Informative

Renewable energy companies are bracing for higher costs and more lawsuits, experts say.

The industry is also threatened by the prospect of a change in the White House in the 2024 election.

Industry leaders worry a new president could slow progress on offshore wind farms for years .

Despite turbulence in the offshore wind market, New Jersey officials are working to forge ahead.

New Jersey leaders are looking to offshore wind as a way to reduce reliance on fossil fuels.

Atlantic Shores Offshore Wind aims to build two projects off Atlantic City and Long Beach Island that will power about 1.3 million New Jersey homes when complete.

Nearly half of New Jersey's electricity is generated by burning natural gas, according to the Energy Information Administration .

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formal

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English

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