By Donald Bryson, CEO | John Locke Foundation
Duke Energy will not pursue offshore wind energy generation off the coast of North Carolina. The decision was made following an independent evaluation demonstrating that offshore wind is not cost-effective, which was recently presented to the North Carolina Utilities Commission.
This is what we at the John Locke Foundation have long argued for.
For several years, John Locke Foundation’s regular research briefs examined the costs, reliability, environmental impacts, and legal complications of different sources of energy. One of our group, Jon Sanders, has arduously beat the drum about the unique costs of offshore wind.
One of the key points has been that offshore wind is neither reliable enough nor cost-effective enough to meet both North Carolina’s growing energy demand and the statutory requirements to reduce carbon emissions.
Now the Utilities Commission agrees too, finding that new natural gas and nuclear power plants are more cost-effective and reliable. Beyond cost and reliability, Duke’s decision to back away from offshore wind energy is a welcome outcome. Offshore wind would worsen energy poverty, severely impact North Carolina’s coastal fishing and beach tourism industries, and overall harm economic growth.
On the environmental front, offshore wind turbines threaten irreparable devastation to critically endangered or threatened marine animals or birds, such as the North Atlantic Right Whale. It’s also foolhardy to place them in North Carolina’s uniquely hurricane-prone waters.
Ultimately, whether it’s economic or environmental, Duke Energy’s decision to drop offshore wind is very good news for North Carolina.
