New York officials have awarded conditional contracts to buy electricity from two proposed offshore wind farms, which would be the largest power generation projects built in the state in decades. The New York State Energy Research and Development Authority (NYSERDA) program allows developers to exit old contracts in favor of new, more economically-friendly deals. The contracts are designed to support New York’s offshore wind industry and support the state’s clean energy targets. The projects are expected to contribute more than 1,700 MW to New York’s goal of developing 9,000 megawatts of offshore wind generation capacity by 2035. The industry is facing challenges from higher construction costs, increased interest rates for financing, and supply chain issues.
Solar Dominates US Energy Capacity Growth
The Federal Energy Regulatory Commission (FERC) has published data showing that solar accounted for over 75% of US electrical generating
