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There's a lot going on in the offshore wind market in the US these days. Multiple projects have had to renegotiate or even outright cancel their power purchase agreements.

In today's episode, Paul takes a closer look at the reasons behind this turmoil and the impact on the nascent offshore wind market.

For further reference:

"Offshore wind in the U.S. hit headwinds in 2023. Here's what you need to know" - NPR

"A wind project promised Mass. cheap power. Then came inflation" - WBUR

"Two major New York offshore wind projects are back on track" - Canary Media

"US offshore wind projects facing inflation headwinds" - Reuters

"Lawmakers pass controversial bill to give tax break to offshore wind developer" - New Jersey Monitor

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The amount of renewable generation that is forecasted to come online over the next few years is staggering. But renewable assets face risks - risks associated with the changing climate in the first place. As weather patterns change, affecting cloud cover, snow melt, or wind speed - renewable assets are especially vulnerable to these changes.

In this episode, Paul unpacks how the changing climate may affect our increasing reliance upon renewable generation for our power supply.

For further reference:

"Will climate change suck the air out of Illinois' wind power industry?" - The Chicago Sun Times

"Global ‘Stilling’: Is Climate Change Slowing Down the Wind?" - Yale Environment 360

"Hydropower: How droughts are affecting the world's biggest renewable energy source" - World Economic Forum

"Wildfire smoke slashed solar power generation" - Verge

Renewables 2023 Executive Summary - IEA

"Global Review Assesses Hydropower’s Vulnerability to Climate Change" - Columbia Climate School

"Climate change extremes and photovoltaic power output" - Nature Sustainability

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There are over 20 Green Banks spread across the US, designed to deploy clean energy technologies and ensure equitable access to the clean energy economy. These quasi-public institutions play an important role in bridging a risk gap between what is "theoretically financeable" and what is "actually financeable".

In this episode, Paul discusses how Green Banks function, the role that they play in handling risks that private institutions can not, and how the IRA and IIJA unlocked billions of dollars of federal funds in the first ever national green bank.

For further reference:

"Biden-Harris Administration Announces $20 Billion in Grants to Mobilize Private Capital and Deliver Clean Energy and Climate Solutions to Communities Across America"

Green Banks - NREL

"State Energy Financing Institutions: Unlocking Billions in Concessional Financing from the Loan Programs Office" - Center for Public Enterprise

Connecticut Green Bank

DC Green Bank

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