Charlie Riedel / AP

The world's first floating wind farm — made up of 5 turbines over 800 feet in height — will soon be installed off the coast of Scotland, allowing the ocean to be tapped for renewable energy, per The Guardian.

The benefits: Floating wind farms could be placed anywhere, opening up new frontiers for wind energy that could not be utilized previously. Fixed-bottom turbines, which are attached to the sea floor, can only be installed at depths up to 40 meters — usually very close to shore, where they can often meet resistance from citizens' groups due to environmental and aesthetic concerns.

The problem: Right now, it's the $228 million price tag. A floating wind farm costs more than double a conventional fixed-bottom wind farm of similar generating capacity. Plus, it requires expensive special equipment to move the turbines into place. But experts expect the costs should even out by 2030.

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The TikTok deal's for-show provisions and flimsy foundations

Illustration: Aïda Amer/Axios

The new deal to rescue TikTok from a threatened U.S. ban — full of provisions aimed at creating the temporary appearance of a presidential win — looks like a sort of Potemkin village agreement.

How it works: Potemkin villages were fake-storefront towns stood up to impress a visiting czar and dignitaries. When the visitors left, the stage set got struck.

  • Similarly, many elements of this plan look hastily erected and easily abandoned once the spotlight moves on.
1 hour ago - Technology

Over 3 million U.S. voters have already registered on social media

Illustration: Eniola Odetunde/Axios

An estimated 2.5 million+ Americans have registered to vote on Facebook, Instagram, and Messenger, Facebook announced Monday. More than 733,000 Americans have registered to vote so far via Snapchat.

Why it matters: The broad reach of social media platforms makes them uniquely effective at engaging voters — especially younger voters who may not know how to register to vote or be civically engaged.

Felix Salmon, author of Capital
1 hour ago - Economy & Business

Wall Street: Recession is over

Illustration: Aïda Amer/Axios

U.S. economic activity fell more sharply in the second quarter of this year than during any other quarter in history. It's also going to grow more sharply in the third quarter of this year than during any other quarter in history.

  • The recession is over, according to Wall Street, with current forecasts showing sustained economic growth through 2021 and beyond.