Wind industry facing increased uncertainty after Trump’s win, NY Times says

Despite a recent burst of activity, the wind industry overall still faces numerous challenges, including soaring costs. And after Donald J. Trump’s presidential victory, the critical question is whether the recent recovery will prove fleeting, The New York Times’ Stanley Reed reports. Today’s environment is one of increased costs and reduced ambitions, and President Biden’s goal of having 30 gigawatts of wind power installed in the waters off the U.S. by the end of the decade now seems unattainable, the author notes. The tariffs the president-elect threatens to impose on imported goods might hit European manufacturers like Vestas. Not only is Europe at risk for tariffs, but turbine makers often rely heavily on parts from India and China, the publication adds. The latest company in the space to stumble is GE Vernova (GEV). The company recently took a $700M charge for losses after a turbine blade broke at Vineyard Wind, and blade problems cropped up at another project off Britain, the author writes.