Then the problems started mounting. American workers’ wages soared after the pandemic, while Russia’s invasion of Ukraine sent commodity prices skyrocketing. The Federal Reserve’s rate increases drove up the cost of borrowing for billion-dollar developments. A global backlog of wind farm plans created a shortage of the vessels needed to haul turbines and their foundations from ports to job sites in the ocean. Delays stacked up. “The problem is the cost has spiraled out of control,” Bartlett said.