Core Viewpoint - The article highlights the significant setback faced by the U.S. renewable energy sector due to the recent decision by the U.S. Department of Transportation to withdraw $679 million in federal funding for offshore wind projects, which is seen as part of President Trump's broader strategy to curb renewable energy development [2][3][6]. Group 1: Funding Withdrawal - The U.S. Department of Transportation announced the cancellation of $679 million in federal funding originally intended for over a dozen offshore wind infrastructure projects [2][3]. - The most affected project is the Humboldt Bay offshore wind project in Northern California, which was set to receive $427 million (approximately 3 billion yuan) [7][8]. - Other projects losing federal funding include various offshore wind initiatives in Maryland, Connecticut, New Jersey, New York, Massachusetts, North Carolina, Ohio, Virginia, and Rhode Island [8]. Group 2: Market Impact - Following the funding withdrawal, shares of Danish wind energy giants Orsted and Vestas Wind Systems fell by over 3%, indicating a negative market reaction [2][3]. - Brookfield Renewable Partners also experienced a decline in stock value as a result of the announcement [3]. Group 3: Industry Concerns - Industry experts warn that the Trump administration's actions could exacerbate the imminent electricity supply shortage in the U.S., damage the power grid, and lead to increased consumer electricity prices [2][9]. - The U.S. Energy Information Administration (EIA) predicts that electricity prices will rise above inflation levels by 2026 due to increased demand and insufficient new renewable energy generation [10]. Group 4: Policy Implications - Trump's administration has been vocal about its discontent with renewable energy projects, particularly wind energy, stating that no new solar or wind projects will be approved even in areas facing electricity shortages [9][10]. - The administration prioritizes fossil fuels and nuclear energy as the most effective and reliable sources for national power supply, contrasting sharply with the renewable energy agenda [10].