The Biden administration is making up to $12 billion available for automakers to retrofit their facilities to make electric vehicles and hybrids.
A factory boom in China that’s lowering the cost and boosting demand for solar panels is also squeezing the margins of the companies that make them.
Orsted A/S’s potential $2.3 billion impairment on its US projects is just the latest in a string of recent setbacks for the nascent US offshore wind industry, which is struggling to fulfill ambitious goals set by President Joe Biden.
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