An end to Biden-era tilting at windmills
Donald Trump’s election victory is quickly taking the wind out of the Biden administration’s ambitious renewables initiatives. President-elect Trump promised to end federal subsidies for offshore wind projects on his first day in office. As with many of his campaign pledges, Americans wait to see whether he will deliver.
Wind Turbines Fall in Popularity
However, the market did not wait to see. Stock prices of offshore wind developers and turbine makers moved sharply downward following election day as investors query whether windmill projects are economically viable without the hefty federal subsidies Trump has promised to terminate. Environmental groups and fishermen have also raised concerns about the potential ecological trade-offs of this plastic-based technology, and worries about…
