a year without electricity and a loss of $7 billion

The federal government just made the biggest mistake in our history, and we’re not talking about a new nuclear revival project energy. We have lost a “green” opportunity that will move us decades forward, plus $7 billion and a year without electricity. What happened to make the outlook so bleak? You will see it now; the whole world is talking about us.

Experts have expressed concerns that America is missing out on its most important “green” opportunity.

As a result of flawed policies supporting the development of the offshore wind and green hydrogen sectors, the United States has suffered enormous losses and lost opportunities. This caused billions of dollars in grants are printed supporting the industry in the opinion of activists, given the slow pace of achievement of results by offshore wind energy.

Increased $7 billion in federal grant funding for residential solar projects to serve low- and moderate-income households from the Biden administration has been equally impacted by these blows, in addition to the more general problems affecting the renewable energy sector.

This loss is quite large, but pales in comparison to potential economic benefits that could be achieved if the production of offshore wind energy and green hydrogen were further developed. According to experts, “we lost an entire year” because our energy system has not completed the transformation.

America’s Most Futuristic Energy ‘Almost Lost’: $7 Billion Running Out

The article also shows that the green hydrogen sector in the United States has also expressed its strong NO, and 2024 has been defined as a “lost year” in reference to tax credit guidelines. This has created clearer policies on reducing greenhouse gases and developing the promising field of tax credits.

The problem is that fossil fuel subsidies have not been “redirected” to sources such as hydrogen, so we are talking about an amount in excess of $7 billion that the federal government has not yet attempted to invest into this new energy that will lead to ecological transformation.

We have seen over 30 countries working on extracting their deposits of hydrogen gas (e.g. Albania or France), producing it at sea (e.g. Spain), and even looking for new “colors” that could give rise to what we know as orange hydrogen, obtained from wastewater treatment.

Energy that we will never have: we lose 30 GW of this “oceanic” source.

The Biden administration’s recently announced goal of reaching 30 GW of offshore wind capacity in the United States only by 2030 faces significant challenges. Many critics pointed out that from June 2024 permissions are issued to just six large offshore wind projects.

It should be noted that the target is 30 projects, which is less than 1 percent of the total, and there are only 5.5 years left in the plan. The main obstacles are the availability of appropriate floating technology (55%), i.e production team offering floating structures (51%) and ports (50%).

Shell, a development company offshore wind projects off the northeastern coast of the United States, said it plans to lay off people working in the sector in connection with redirecting the company’s efforts to hydrocarbon production. Wind turbine manufacturer Siemens Gamesa also announced more depressing news for the industry.

According to a recent study by London-based consulting firm Westwood, the floating offshore wind industry is expected to install less than 3 GW of fresh floating generating capacity by 2030 and around 10 GW by 2040. Do you see why we are very far from these “ green” goals?

You see, the year 2024 is has been announced a lost year due to lack of public funds, as many projects aimed at stimulating and developing renewable energy sources complained about. Even with foreign financing and private capital, we have to catch up to where we need to be energy Sources such as hydrogen or geothermal energy are hit harder (not to mention photovoltaics or agrovoltaics).