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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The Einride Level 4 autonomous HDEV is being operated under a relatively new Belgian regulatory framework, and showcases how Einride (and Europe) might hope to take the lead in advancing autonomous freight technology. Now in service at the Port of Antwerp-Bruges, one of the most complex logistics centers in the world, Einride believes its autonomous trucks can move goods with more efficiency and lower emissions than human-driven, diesel-powered rivals.
“Antwerp is more than a logistical hub,” explains Johan Klaps, an alderman at the port of Antwerp. “(Antwerp) is also a place where the mobility of tomorrow is tested and concretized. Autonomous and sustainable applications such as Einride’s proves that innovation is a driver for competitiveness and economic growth.”
Einride autonomous HDEV
The Einride truck itself is an impressive piece of engineering, fitted with a robust 320 kWh li-ion battery pack that promises more than 650 km (405 miles) of all-electric range, thanks to a combination of slippery aerodynamics, energy-efficient electric drive motors, and (of course) the energy-smart driving tactics employed by its impressive self-driving software.
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Einride says its autonomous driving system (backed by a remote operator, Waymo-style, to help deal with edge cases) processes over 5 million data points per second, using radar and LiDAR to feed AI that generates real-time driving instructions for seamless navigation and freight delivery. And, thanks to its purpose-built, cab-less design and 82,000 lb. GVWR, each electric truck can operate with fewer than one remote operator per vehicle, paving the way for far more cost-efficient and expansive logistics operations without the need for many more operators.
“What we are seeing today in Antwerp perfectly aligns with European ambitions,” says Andrea De Candido, Connected, Cooperative and Automated Mobility (CCAM) DG RTD – European Commission. “(We’re) developing innovative technologies that are efficient, safe, sustainable and scalable. Through pioneering projects like this, we strengthen Europe’s position in future-oriented automated mobility solutions.”
With driver shortages still hitting the industry and electric semi fleets already running across Europe, the Middle East, and even here in the US, it’s only a matter of time before Einride rolls out its autonomous trucks in more markets.
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Due to Tesla still referring to them as “new, more affordable models”, many people believed that Tesla would still bring to market new, cheaper models.
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In fact, the automaker initially stated that it would arrive in the “first half of 2025.”
The new stripped-down Model Y is codenamed E41 and is expected to feature cheaper materials and fewer features than the normal Model Y, which starts at $45,000 in the US.
It is expected to be similar to what Tesla did with the new base Model 3 in Mexico, which features cloth materials instead of vegan leather, lacks a rear display, has no ambient lighting, and features a less advanced audio system.
However, we now learn that the new affordable Model Y will go further than a cheaper interior.
Green, a well-known Tesla hacker who often reveals new features in vehicles through looking deep in firmware updates, claims to have uncovered new details about the upcoming Model Y E41 through the latest Tesla firmware update.
Simplified model Y “E41” that was sighted live now appears in the firmware too. They will have two audio options: “essential” and “essential with commodity” Backup camera would lose a heater no “airwave” in console E41 fascia (performance will also get a fascia update)
The details are somewhat limited as he has to decode them from the firmware, but here’s the full list of what he has found out about the new cheaper Model Y:
“Essential” and “essential with commodity” audio packages
Backup camera without heater
No “air wave” in the center console, which likely means no air flow control for the second row
A new front fascia
Simplified fiberglass headliner
Simplified cabin lighting (footwell only)
Simplified seat controls (single axis)
No power mirror folding
No puddle lamps
No glass roof
No second row display
No Tire Pressure Monitoring System
Simplified 18″ wheels
Downgraded suspension
Tesla has yet to confirm when the new Model Y version will launch, but we previously reported that Tesla is likely waiting for Q4 as it is enjoying strong demand in Q3 from the end of the federal tax credit in the US.
Electrek’s Take
I like “simplified”. I don’t know if the term comes from Green or Tesla, but it certainly works better than “stripped-down,” even though it is also accurate based on what we are learning about the new version.
This didn’t work with the Cybertruck. Tesla quickly discontinued the “simplified” version, but the Cybertruck was already much less popular than Model Y.
I don’t know. This could work. It depends entirely on pricing. If it brings the base price down to $35,000, I can see some people going for it.
However, it will likely devalue Tesla’s “premium” brand and the Model Y significantly.
Also, most of the demand is likely going to come from Model Y buyers in the first place – cannibalizing Tesla’s own sales.
In short, it’s more of a placeholder to slow down the degradation of Tesla’s EV business amid its shift to autonomous driving and robotics, rather than a solution to return to EV growth. That’s a bummer.
Tesla needs brand-new EV models. It’s plain and simple.
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For decades, Briggs & Stratton has helped keep the lights on after the storm with its gas-powered generators. Now, the company is bringing that legacy into the modern electric era with a home backup battery — and a new partnership with EG4 is making it easier than ever to integrate Briggs’ batteries into your home solar setup.
That dependability makes the EG4 inverters favorites among “preppers” as well. Its 18KPV inverters are EMP-hardened, promising reliable performance even after Electromagnetic Pulse (EMP) events that would disable other electronics.
“Our collaboration with Briggs & Stratton combines EG4’s advanced energy storage systems with their proven generator and storage technologies to give customers more ways to achieve reliable, uninterrupted power,” said James Showalter, founder and CEO of EG4. “With this partnership we are making it easier than ever to build the right solution for energy independence.”
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Simplify, SimpliPHI
SimpliPHI battery storage; via Briggs & Stratton.
Briggs & Stratton’s SimpliPHI battery packages start with one, two or three SimpliPHI-branded 6.6 kW batteries, designed as modular components to deliver a range of power options tailored to how much of the home or business the user wants to keep powered power during an outage. Is that 25% of their normal energy usage? 100%? Just add more batteries.
The companies explain that, with a 200A pass-thru for easy integration into most homes’ main service panels, the Briggs & Stratton + EG4 home solar battery system can be scaled up to 18 batteries for 119.7 kWh of energy storage and a maximum continuous power of 84 kW, or up to 90 hours of power at 100% load.
“We are excited to expand our closed-loop integrations with EG4,” explains Sequoya Cross, vice president of energy storage for Briggs & Stratton Energy Solutions. “We have been consistently impressed with their approach to the market, innovative design choices and products that reliably serve their customers.”
If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
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