Truth to Power - Episode 34 (Audio) скачать в хорошем качестве

Truth to Power - Episode 34 (Audio)

On this week’s episode of #TruthtoPower, IntelStor's Founder & CEO, Philip Totaro dissect the costs to the US offshore wind sector from the stop work orders as well as the tariffs which have been enacted. The financial impact of the US administration’s stop work orders on the construction of the five offshore wind farms in the USA have totaled more than $515 million. On top of this, the impact of tariffs imposed by the US administration has added another $1.06 billion to the total cost as well. These ill-considered actions have driven total cost for these five projects to more than $28.4 billion and the average cost to more than $5 million per installed megawatt (MW). That average cost per MW is substantially higher than the average cost per MW in Europe during the early days of the offshore wind industry. The developers bear the burden of these costs overruns, and it reduces their margins. Tariffs have added 4.4% to the cost of Revolution Wind, 4.95% to the cost of the Coastal Virginia Offshore Wind project, and 5.44% to the total cost of Sunrise Wind. The tariff impact on Empire Wind and Vineyard Wind was lower, but still appreciable at 2.15% and 0.58% respectively, because much of the component sourcing was already completed prior to the tariffs being enacted. The stop work orders on these five projects have also contributed substantially to project costs with each developer incurring a cost increase equivalent to approx. 1.2 - 2.6% of the total project cost. Have a listen today, and get in touch with your best questions about the #offshorewind industry in the USA or #renewableenergy markets in any country around the world. This show examines data driven insights for the energy sector, with a focus on renewables. To subscribe to IntelStor Research Notes and get early access to our latest content as well as these Truth to Power weekly editorials, visit https://lnkd.in/e98Z9qs3