Bernstein, a Wall Street research firm, estimates that the price of land-based wind turbines, which sell for millions of dollars each, has increased 40 percent since 2021, while the cost of building wind farms off the United States has risen by a third, a big number for projects that cost billions.

There is almost 65 gigawatts of offshore wind capacity under development in the U.S., enough to power more than 26 million homes, and some turbines are already spinning in several states.

We are going to make sure that that ends on Day 1,” Trump said in a May speech. “I’m going to write it out in an executive order. It’s going to end on Day 1."

Opponents of offshore wind energy projects expect President-elect Donald Trump to kill an industry he has vowed to end on the first day he returns to the White House.