Any Way The Wind Blows Free Pdf Download

The only thing dumber than onshore wind energy is offshore wind energy. The good news for ratepayers, taxpayers, birds, bats, landscapes, viewsheds, and the critically endangered North Atlantic Right Whale, is that both sectors are getting hammered by market forces that make their projects uneconomic.

Unprecedented economic headwinds facing the industry including record inflation, supply chain disruptions, and sharp interest rate hikes, the aggregate impact of which rendered the Park City Wind project unfinanceable under its existing contracts.

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The levelized cost of electricity of a subsidized US offshore wind project has increased to $114.20 per megawatt-hour in 2023, up almost 50% from 2021 levels in nominal terms, according to BloombergNEF calculations. Increases in capex and opex have added $16.90/MWh to the LCOE. The higher cost of capital, thanks to interest rate hikes, has increased levelized costs by another $27.20/MWh, assuming project owners continue to expect to make a 5-percentage-point premium over their cost of debt.

The cancellations of these offshore wind projects are welcome news for conservationists and commercial fishermen, who have been fighting offshore wind plans for years. About five dozen whales have washed ashore on the East Coast this year alone. Those whale deaths have coincided with the increased boat activity and high-decibel sonar mapping in the region being performed by offshore wind developers. As I reported here in January, the locations for the offshore wind projects are often on top of, or adjacent to, known habitat for the critically endangered North Atlantic Right Whale (Eubalaena glacialis). In that article, I published a pair of maps. I wrote:

For more on the whale story, I highly recommend you watch the new film, Thrown To The Wind, which stars my friend, Lisa Linowes. (Lisa has been on the Power Hungry Podcast twice. Her most recent appearance was in June.) Acoustician Robert Rand also plays a prominent role in the film. His recordings of whale noises and the subsea noise being created by the ships doing high-decibel sonar mapping for the wind industry, are among the key moments in the film.

In June, the International Energy Agency reported that the cost of large-scale solar and wind power jumped by about 20% last year. As seen in the graphic above, LevelTen Energy recently found that the agreed price on power purchase agreements for wind and solar projects more than doubled between 2020 and the second quarter of 2023. Last month, the British government got no bids for new offshore wind projects. According to the BBC, the government blamed a "global rise" in inflation impacting supply chains had "presented challenges for projects."

Avangrid will pay a $16 million penalty to cancel the contract to sell electricity from the offshore wind project to Connecticut. The move is the latest blow to the Biden Administration\u2019s plans to construct 30,000 megawatts of offshore wind on the East Coast over the next several years. In August, Shell and Ocean Winds North America agreed to pay $60 million to cancel contracts to sell power to Massachusetts from the proposed 2,400-megawatt SouthCoast Wind project. In July, Avangrid agreed to pay $48 million to cancel its contract with Massachusetts to sell power from the proposed 1,200-megawatt Commonwealth Wind project. Also in July, Rhode Island Energy announced it was canceling a power purchase agreement with \u00D8rsted and Eversource on the 884-megawatt Revolution Wind project because the power from the offshore facility was too \u201Ctoo expensive for customers to bear.\u201D

This news shouldn\u2019t be surprising. Offshore wind energy has always been insanely expensive. Indeed, the only method of generating power that\u2019s more expensive than offshore wind is by burning currency in a power plant\u2019s boiler. One of the main reasons offshore wind is so expensive (aside from the corrosive effects of salt water) is its high resource intensity. As I noted in my August 13 Substack, \u201CThe Power Of Power Density,\u201D offshore wind requires vast amounts of copper, manganese, zinc, and other critical metals and minerals.

Although the companies developing offshore wind on the East Coast claim that they will rebid the projects sometime in the future, that\u2019s not certain. In August, Bloomberg New Energy Finance reported that the cost of producing electricity from offshore wind has soared over the past two years:

The maps clearly show that the offshore wind projects being approved by the Biden Administration could be built right on top of the habitat of the North Atlantic Right Whale, a species that is seeing huge population losses. Over the past decade or so, the whale\u2019s population has plunged by about 26% and there are only about 70 breeding females left.

\u201CAdditional noise, vessel traffic and habitat modifications due to offshore wind development will likely cause added stress that could result in additional population consequences to a species that is already experiencing rapid decline.\u201D The author of the letter was Sean Hayes, the chief of the protected species branch at the NOAA\u2019s National Northeast Fisheries Science Center. Hayes said that disturbance to the whales\u2019 foraging areas \u201Ccould have population-level effects on an already endangered and stressed species.\u201D

The documentary, directed and produced by Jonah Markowitz, is about 28 minutes long. It\u2019s well-shot and edited. Author Michael Shellenberger and his colleague at Public, Leighton Woodhouse are the executive producers. The film shows how federal officials and NGOs have repeatedly ignored the danger offshore wind development poses to whales. And they\u2019ve done so in order to facilitate massive federal tax giveaways to the mostly foreign companies, like Avangrid, who have been pushing offshore wind projects.

Meanwhile, NextEra Energy has seen its stock price hammered. The Florida-based company, the world\u2019s largest producer of renewable energy, has used hardball legal tactics against rural communities across rural America as part of an effort to force those communities to accept wind projects. Its stock price plummeted after its subsidiary, NextEra Energy Partners LP, slashed its annual growth target. Over the past month, NextEra Energy Partners\u2019 stock price has fallen by more than half and the parent company\u2019s stock is down by about 22% over the past ten days.

On Monday, the Wall Street Journal reported that \u201Crising interest rates are challenging wind and solar developers and blunting a tidal wave of government subsidies for green proejcts. Wind, solar, and other renewable projects involve high upfront expenditures, making them extremely sensitive to borrowing costs.\u201D The article continued, \u201CNextEra is a bellwether holding for clean-energy investors.\u201D On Tuesday, Bloomberg\u2019s Liam Denning wrote a piece headlined, \u201CNextEra\u2019s Rout Spells Trouble For Renewables.\u201D And to borrow Avangrid\u2019s phrase, more \u201Ceconomic headwinds\u201D are ahead.

In June, the International Energy Agency reported that the cost of large-scale solar and wind power jumped by about 20% last year. As seen in the graphic above, LevelTen Energy recently found that the agreed price on power purchase agreements for wind and solar projects more than doubled between 2020 and the second quarter of 2023. Last month, the British government got no bids for new offshore wind projects. According to the BBC, the government blamed a \\\"global rise\\\" in inflation impacting supply chains had \\\"presented challenges for projects.\\\"

Ethel, a ladies' maid in an upper-class household, meets milkman Ernest as he cycles past her house every day and sees her in the window. Eventually he comes to the door and asks her out, and things proceed quickly from there, as they get married shortly after it's clear he can support her. In terms of differences between now and then, this is the big one: Ernest's working class salary, combined with government benefits, was enough back then to buy a spacious multi-bedroom house, and eventually -- once they became mass-produced for consumers -- a car. Throughout their lives, the couple argued politics, though mostly on a shallow level. Ethel, having tasted the upper-class life by serving in it, aspires to becoming one of her supposed betters and supports the Conservative party; Ernest, who's working class through and through, is a Labour and union man. Both back Churchill during the war, but Ernest's pro-Labour glee in seeing him out of office once the fight is over may explain that election a bit more to American viewers who have always wondered why. e24fc04721