We recently came across a couple of intriguing articles worth passing along. Both share a common theme – the American energy markets face major challenges from competitors who seek to take the lead in renewable energy, including wind power. Some countries already have. Projects like Outer Banks Ocean Energy Corporation’s (OBOE) Offshore Wind Farm can help the U.S. energy industry to position itself as a world leader, but several critical elements are needed to aid the effort. Our offshore wind project can flourish if given the proper commitment from government.
An Aug. 3 Forbes special report discusses perhaps the biggest obstacle standing in the way of renewable energy: funding. As the article notes, limited financing has slowed U.S. wind growth from 8,300 megawatts in 2008 to a projected 4,000 to 6,000 megawatts this year. Tax relief has dissipated. The cost associated with technology and infrastructure has proven overwhelming for many.
This should not be the case. Despite troubled economic times, renewable energy should be considered an investment in our future. The offshore wind farm that OBOE plans to place off North Carolina’s coast will help our state meet its energy needs while providing a clean source of power that advances the nation’s progress towards energy independence and good climate stewardship.
As Ed Lowe, general manager for renewables market development at General Electric, says in the Forbes article, “What’s really been the driver… for wind has been effective policy.” An Aug. 3 column by GE chairman and CEO Jeff Immelt and John Doerr, partner at venture capital firm Kleiner Perkins Caufield & Byers in the Washington Post similarly suggests that policy shifts will be needed to overcome increased competition in green technology. They recommend that the United States demonstrate more clearly that it values clean energy through policy reform. Otherwise, the authors note, we will continue to lag behind China and other countries who are making great strides in their renewable energy efforts.
What both pieces ultimately speak to is the need for an institutional about-face on things like wind power. The team at OBOE is excited about diving into offshore wind off the coast of North Carolina, but to be successful, we will need support and commitment from all sectors, including the government. It is a new day for wind energy in our state, and with the right support in place, OBOE’s Offshore Wind Farm can provide a great benefit to North Carolinians.
January 11th, 2010 at 8:05 pm
What will it take to make this a reality? What are the draw backs? From what I see posted the only drawback is monetary. The technology seems to be in place except in a pure aquatic atmosphere. Why go with natural gas as a backup? Shouldn’t you be trying to further the complete “Clean Energy” platform, with Solar?
January 13th, 2010 at 10:02 am
Rick, as this post mentions, one critical barrier to projects like OBOE’s Offshore Wind Farm worldwide is securing the proper funding. We believe that, through evolution in public policy and opinion about renewable energies like wind power, there is growing excitement about what such a project can provide the state and its citizens in return for their initial investment. As for the natural gas portion of our farm, it is our belief that a hybrid platform that includes traditional sources alongside turbines that capture the energetic winds off North Carolina’s coast will render the most efficient power generation possible.