The US offshore wind industry has had some significant problems lately – but here’s why that’s not going to stop the young sector in the long run.
According to the US Department of Energy’s 2023 Offshore Wind Market report from August, around 27 power offtake contracts totaling more than 17 gigawatts (GW) of potential energy were signed by the end of May. But higher financing costs, inflation, and supply-chain bottlenecks have eaten away at the potential profitability of some of those planned US offshore wind farms. Some offshore wind developers have canceled their offtake agreements, and others have asked for renegotiations.
As the US sees its first two offshore wind farms come online by the end of this year, here are four reasons why, ultimately, the financial and supply-chain problems will pass:
Delays won’t be that dire. Most offshore wind farms that are delayed will be built just a year or two later than originally forecast. And continued investment in domestic supply chains is going to mitigate inflationary risks over the long term.
Job creation. The offshore wind industry is poised to create hundreds of thousands of domestic jobs. According to the National Renewable Energy Laboratory, offshore wind is going to need an annual average of between 15,000 and 58,000 full-time workers from 2024 to 2030. (Now we just have to train folks to fill them.)
Big wins for the Northeast. The Northeast is the US’s offshore wind trailblazer, so, of course, it’s where the first offshore wind farms are coming online. Vineyard Wind 1 off Massachusetts and South Fork off Rhode Island and Massachusetts are expected to deliver first power by the end of this year.
It’s also a region still heavily reliant on fossil fuels. But as demonstrated by Europe’s North Sea offshore wind farms, they provide the most energy during the winter months, and that means savings on utility bills when folks in New England and the mid-Atlantic will need it most. Also, compared to price-volatile oil and gas, offshore wind will offer a long-term, fixed-price contract for utilities and ratepayers.
Long-term economic benefits. Recent Climate Nexus analysis shows that offshore wind could meet up to 25% of US energy demand while injecting up to $1.8 trillion in investment into the economy. A 2022 report from the nonprofit Chesapeake Climate Action Network projects $5 billion in savings for Maryland’s ratepayers over the next decade as offshore wind gets added to the energy mix. Clean energy is going to help bring down energy costs in the face of inflation.
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Tesla has launched a new version of the Model Y in China, and it’s achieving an impressive new range rating – thanks to a new battery cell from South Korea’s LG.
The new variant, a five-seat, rear-wheel drive long-range model, has been released with an 821-km range based on China’s CLTC standard.
While the CLTC rating is known to be optimistic, 821 km (about 510 miles) is an impressive number and the longest range Tesla has offered in its Model Y lineup to date, which is going to help it be more competitive in the Chinese market.
The new long-range RWD Model Y starts at RMB 288,500, which translates to just over $40,500 USD.
The launch comes at a critical time for Tesla in China, which has seen its sales slump in recent months. The automaker recorded its lowest monthly sales in October since November 2022, falling out of the top 10 list for new energy vehicle (NEV) sales.
That’s despite a continued surge in electric vehicle sales in China. Tesla is not benefiting from it amid strong competition.
According to local Chinese media reports, the new 821-km Model Y is already gaining traction with some anecdotal reports of enthusiasm at Tesla stores.
The reports are partly supported by Tesla quickly extending delivery timelines from 2-4 weeks to 4-6 weeks just hours after launch.
Electrek’s Take
I think this is going to be suitable for a decent short-term bump in demand, but it’s still on the expensive side for the Chinese market.
For example, now the Model Y beats the Xpeng G6’s max range of 755 km, but the G6 with this range costs 234,900 RMB (approximately $32,900 USD), which is significantly cheaper.
Every 10,000 RMB tranche lower means a lot more demand in China.
Tesla needs to launch its new “standard” versions to start making a difference with demand long term in China.
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Cadillac’s luxury electric SUV is suddenly pretty affordable. The Cadillac Lyriq saw the biggest price drops this fall, with lease prices down $115 a month since October.
Cadillac Lyriq lease prices drop in November
It’s been three and a half years since the first Lyriq models for customers rolled off the production line at GM’s Spring Hill, Tennessee, assembly plant, kicking off a new era for Cadillac as its first all-electric vehicle.
Through the first three quarters of 2025, it was the second-best-selling luxury EV and has helped put Cadillac on pace for its best sales year since 2013.
To keep the momentum going, Cadillac is offering 2025 Lyriq leases starting at $419 per month this November. The deal is for a 24-month lease, with $4,799 due at signing, for an effective monthly cost of $619.
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According to online auto research firm CarsDirect, that’s a $115 price drop from last month, among the largest of any vehicle in the US.
The 2025 Cadillac Lyriq Luxury (Source: Cadillac)
The deal includes a $2,000 competitive cash allowance for Tesla, Rivian, Polestar, Ford, Honda, Hyundai, Genesis, BMW, Audi, Mercedes-Benz, and other competitive brand owners and lessees.
The 2025 Cadillac Lyriq 1 AWD offers an EPA-estimated 319 miles of range and boasts a massive curved 33″ digital infotainment screen with wireless Apple CarPlay and Android Auto.
The interior of the 2025 Cadillac Lyriq Luxury (Source: Cadillac)
Cadillac now offers a complete lineup of electric SUVs, including the entry-level Optiq, midsize Lyriq, and larger Vistiq and Escalade IQ.
Outside of the Escalade IQ, Cadillac is offering the $2,000 competitive cash allowance across its entire EV lineup. If you’re looking for a cheaper option, the 2026 Cadillac Optiq is available to lease for as low as $319 per month. To take advantage of the deals, you must take delivery by January 2, 2026.
Ready to test drive one to experience it for yourself? You can use our links below to see available Cadillac electric SUVs in your area.
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EcoFlow launches DELTA 3 1000 Air power station and bundles with up to $640 early-bird savings starting from $299
Running alongside its early Black Friday Sale, as well as the RAPID power bank promotions, EcoFlow has launched its new DELTA 3 1000 Air Portable Power Station starting at $299 shipped that gets a FREE 65W charger, as well as bundles at up to $640 off (and listed below). This all-new unit will carry a $499 full price outside of these initial launch savings, with it not yet available on other marketplaces like Amazon. The deal here is a 40% markdown that cuts $200 in first-time savings from the going rate, setting the bar for future discounts in later months. Head below to get the rundown on this new backup power solution, as well as its discounted bundle options.
Joining EcoFlow’s compact, yet powerful backup power solutions, the new DELTA 3 1000 Air station brings along a 960Wh battery capacity that the brand claims to “power 99% of home-essential appliances” with its 500W power output that can surge as high as 1,000W, thanks to the included X-Boost tech. It sports AC, USB-C, and USB-A ports to cover connection needs, and even boasts three front light indicator lights to show the status of your grid when it’s plugged in, with it immediately switching to its own power supply upon detecting instability, making it quite the unique switchover support at home.
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There are four main ways to power/recharge the EcoFlow DELTA 3 1000 Air station, starting with a standard AC outlet that can have it back to full in two hours. There’s also a maximum 500W solar input to utilize with appropriate panels, as well as a gas generator connection option, and the usual on-the-go recharging from your car’s auxiliary port.
EcoFlow’s DELTA 3 1000 Air power station launch deals:
Autel’s new outdoor cams pack a punch with solar design, local storage, and HDMI with kits from $249 (Up to $200 off)
Through its official Amazon storefront, Autel is now offering the first cash savings on its new 2-cam Outdoor Wireless Solar Security Camera kit starting from $249 shipped, after clipping the on-page $50 off coupon, as well as its 4-cam Outdoor Wireless Solar Security Camera kit at $299 shipped, after clipping the on-page $200 off coupon. These new solar-powered surveillance devices have been on the market since late August carrying $299 and $499 full prices, with the on-page coupons providing the first discounts we’ve spotted. You’re looking at either a $50 or $200 markdown on these packages while things last, providing the first price cuts that set the bar for future discounts.
Cash in during Lectric’s Black Friday battery sale with up to 25% off new and legacy models starting from $270
As part of its ongoing early Black Friday Sale, Lectric has now launched a Black Friday battery sale with up to 25% savings across a large collection of spare batteries that you can use to double your range and prolong travel times, with prices starting at $270 shipped and ranging up to $595 shipped. Usually for discounts on extra batteries, you’d have to be lucky to catch some of the rare instances of free inclusions, with occasional models getting up to 30% discounts alongside e-bike purchases, but again, these are rare occurrences. While this side sale continues you’ll be able to grab one for any XP4, XPeak, XPedition, XPress, XP Lite, ONE, and older XP 3.0 e-bikes you already own with up to $211 in savings at some of their best prices.
EcoFlow’s newest 10,000mAh to 27,650mAh RAPID power banks with up to 53% Black Friday savings at new lows from $66
EcoFlow is offering an additional 5% savings along with its Black Friday Sale pricing on its new RAPID series of power banks using the promo code EF3CAFF5 at checkout, giving you up to 53% savings on these power solutions. Things start with the RAPID Pro 67W 10,000mAh Power Bank at $66.49 shipped, after using the code EF3CAFF5 at checkout, beating out its Amazon pricing by $3. Normally fetching $90 at full price since hitting the market in August, we’ve seen discounts only go as low as $69 up until now, with this combined 26% markdown dropping things to a new all-time low.
Save up to 34% on ALLPOWERS’ new Volix P300 256Wh power station and bundles starting from $132
ALLPOWERS is launching its latest Volix P300 Portable Power Station direct from its website at $149 shipped, however, it’s been available since the last days of October over at the brand’s official Amazon storefront, which is beating out this direct launch deal at $132.30 shipped, after clipping the on-page 30% off coupon. There are some bundle options to score it with solar panels, with those being available only from the direct website (and listed below). This new power solution carries a $249 MSRP direct from ALLPOWERS, but we’ve been seeing it start lower at $189 over at Amazon. The deal here provides you with a $57 markdown off the going rate (and $117 off the MSRP) for the best price we can find anywhere.
Lectric XP4 Standard Folding Utility e-bikes with $326 bundle: $999 (Reg. $1,325)
Lectric XP Lite 2.0 Long-Range e-bikes with $449 bundles: $999 (Reg. $1,448)
Heybike Hauler Single-Battery Cargo e-bike (new low): $899 (Reg. $1,413)
Best new Green Deals landing this week
The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.
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