{"id":41837,"date":"2023-07-28T23:29:35","date_gmt":"2023-07-29T03:29:35","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/offshore-wind-powers-true-costs\/"},"modified":"2023-07-28T23:29:37","modified_gmt":"2023-07-29T03:29:37","slug":"offshore-wind-powers-true-costs","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=41837","title":{"rendered":"Offshore Wind Power\u2019s True Costs"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"SB52677466533358694782304590112073200223444\">\n<p><strong>To the Editor:<\/strong><br \/>Avi Salzman was correct to warn about the escalating costs of wind power, but his warnings were too mild (\u201cTrouble in the Wind,\u201d Cover Story, July 21). Salzman pointed out that many of the leading offshore wind companies are European. He might have asked some European industry experts for their thoughts.<\/p>\n<p>One such industry expert, Capell Aris, recently penned an article for London\u2019s Daily Telegraph titled \u201cBritain\u2019s Green Energy Disaster Should Be an Awful Warning to Americans.\u201d He relied on experience rather than long-range hypothetical plans, and his numbers are far less optimistic than Salzman\u2019s. <\/p>\n<div class=\"paywall\">\n<p>He writes, \u201cExtra services like very rapid-response gas generators, required in order to make it possible to connect renewables to the grid, add\u2026to renewables\u2019 cost. Thus, the true cost to the customer of offshore wind generators is actually [$255 to $280 per megawatt-hour],\u201d much higher than Salzman\u2019s estimate of $100\/MWh that he argues will result from a trend of costs going down. <\/p>\n<p>Perhaps this explains these European companies canceling wind contracts?<\/p>\n<p><strong>Dan Munson<\/strong><br \/><strong>St. Paul, Minn.<\/strong><\/p>\n<p><strong>To the Editor:<\/strong><br \/>Every watt of offshore wind power will require backup by a different power source. In other words, the capacity must be built twice. Your cost statements need to account for backup. Rate payers are in for a shock.<\/p>\n<p><strong>David Peters<\/strong><br \/><strong>On Barrons.com<\/strong><\/p>\n<h2>On VCs and India<\/h2>\n<p><strong>To the Editor:<\/strong><br \/>As an ex-Brit, I liked the cricket reference in the Up &amp; Down Wall Street column, but I question both the difficulty for tech companies to get acquired (\u201cVenture Capital\u2019s Funk Bodes Poorly for Private Company Valuations\u201d) and Apple\u2019s opportunity in India (\u201cThis Country Could Be Apple\u2019s Next Big Opportunity,\u201d July 21).<\/p>\n<p>In the past three years, Alphabet, Meta Platforms, Apple, and Microsoft acquired 83 companies. Hardly a dead mergers-and-acquisitions market. In India, Apple will find revenue growth hard to achieve. Samsung and four Chinese smartphone companies are already well established with 70% of the market. Apple is in seventh place.<\/p>\n<p><strong>David North<\/strong><br \/><strong>Denver<\/strong><\/p>\n<p><strong>To the Editor:<\/strong><br \/>Eric J. Savitz\u2019s venture-capital article is well written and informative and exposes a somewhat hidden weakness in the economy\u2014a weakness that could hemorrhage tech jobs and curb some of the excitement around tech stocks.<\/p>\n<p><strong>H.P. Gates<\/p>\n<p>On Barrons.com<\/strong><\/p>\n<h2>Limited Labor Force<\/h2>\n<p><strong>To the Editor:<\/strong><br \/>This article started out perfectly when it mentioned the flameout of the last hot new things, Peloton and Beyond Meat (\u201cAmerican Manufacturing\u2019s Revival\u2014and 7 Stocks to Play the Trend,\u201d Streetwise, July 21). But it then ignored the largest impediment to a reshoring or even a revival of U.S. manufacturing: our limited labor force. <\/p>\n<p>In the past two decades, we sent tens of millions of jobs overseas and created tens of millions more overseas that never were in the U.S. But we have only about five million unemployed workers in the U.S. and don\u2019t have the workers to handle the demand. Our companies are growing much faster than our population. Add in baby boomer retirements and lower immigration rates, and we can\u2019t handle reshoring. Why do you think the Federal Reserve is trying to slow the economy? Its real target is the tight labor market. Near shoring, or reshoring to friendlier locations, is a better choice.<\/p>\n<p><strong>Jeremy Blum<\/strong><br \/><strong>Cary, N.C.<\/strong><\/p>\n<h2>Take Heed<\/h2>\n<p><strong>To the Editor:<\/strong><br \/>\u201cThe Fed Could End the Stock Market\u2019s Rally Anytime It Wants To\u201d (The Trader, July 21) reminds readers that darker days may well lie ahead and that they should take warning and batten down the hatches. I\u2019m buying Treasuries and enjoying a solid 5% yield.<\/p>\n<p><strong>J. Wallace<\/strong><br \/><strong>On Barrons.com<\/strong><\/p>\n<h2>Dividend Talk<\/h2>\n<p><strong>To the Editor:<\/strong><br \/>One doesn\u2019t have to look far for examples of corporate boards cutting dividends soon after their executives emphasize the importance of maintaining them (\u201cAre AT&amp;T and Verizon\u2019s Dividends Safe? What the Math Says,\u201d Income Investing, July 19). Investors beware. Talk of maintaining a dividend best not be construed as actually sustaining the current dividend. It must be taught in business schools that increased stock prices and dividend yield are inversely correlated. The former\u2019s rise is limited if the latter is too high. Although more cash is freed up when dividends are significantly reduced, it often signals distrust that extra money won\u2019t be wisely spent. The familiar result: a lower payout coupled with even a lower stock price. <\/p>\n<p><strong>Thomas D. Finnigan<\/strong><br \/><strong>Mount Vernon, Va.<\/strong><\/p>\n<h2>Buy, Hold, and Reap<\/h2>\n<p><strong>To the Editor:<\/strong><br \/>Arthur J. Gallagher is an impressive company that few people have ever heard of (\u201c<em>Barron\u2019s<\/em> Stock Pick: This Insurance Broker\u2019s Stock Is Anything but Boring,\u201d July 21). The yearly record of higher earnings, dividends, and stock price are what investors\u2019 dreams are made of. Its stock price seems a bit rich for a financial, but this is one that you just hold your nose and buy, put away forever, and be rewarded.<\/p>\n<p><strong>Gerald Schall<\/strong><br \/><strong>On Barrons.com<\/strong><\/p>\n<p><strong>Send letters to: <\/strong>mail@barrons.com. To be considered for publication, correspondence must bear the writer\u2019s name, address, and phone number. Letters are subject to editing.<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/offshore-wind-powers-true-costs-ab23db6c?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>To the Editor:Avi Salzman was correct to warn about the escalating costs of wind power, but his warnings were too mild (\u201cTrouble in the Wind,\u201d Cover Story, July 21). Salzman pointed out that many of the leading offshore wind companies are European. He might have asked some European industry experts for their thoughts. One such [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17552,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-41837","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Offshore Wind Power\u2019s True Costs | iFintechWorld<\/title>\n<meta name=\"description\" content=\"To the Editor:Avi Salzman was correct to warn about the escalating costs of wind power, but his warnings were too mild (\u201cTrouble in the Wind,\u201d Cover\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=41837\" 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