The Indicator from Planet Money · Monday, August 10, 2026
Experts and industry representatives express concern that the federal government's actions to cancel offshore wind leases could significantly hinder the growth of renewable energy in the U.S. While offshore wind is seen as a reliable energy source, the lack of investment and potential for future price increases are worrying, especially in light of increasing demand for electricity.
“Well, Severin says this is actually going to have a pretty big impact on the development of offshore wind, which here in the US is still a nascent energy source. And that's a shame, he says, because offshore wind is actually more reliable than onshore wind. Wind speeds over the sea are generally faster and steadier. But it needs a lot of investment in the beginning to help bring prices down. And without that, offshore wind in the US will continue to be very expensive and not as widely adopted.”
“I'm quite concerned about this. I think the people who say, oh no, renewables has such momentum now, there's nothing you can do to slow it down are really not looking at the facts.”
“90% of all of the new electricity added to our nation's electricity grid over the last few years has come from clean sources. And the administration obstructs the kind of, you know, economic reality of American energy, you're going to see prices skyrocket. And at which point they'll have to back down. It's just a question of how much unnecessary harm happens to consumers in the economy while they figure this out.”