Biden’s administration sets a target to deploy 30GW of offshore wind in the US by 2030 and 110GW by 2050.

by Mar 29, 2021

In order to eliminate U.S. greenhouse gas emissions to fight climate change, the Biden’s administration has set a national target of 30 GW of installed offshore wind capacity by 2030 to jumpstart offshore wind energy in the States and create thousands of jobs in the sector over the next decade. At present, compared to multiple projects in European nations , only two offshore wind turbines( Dominion’s 12-MW Coastal Virginia Offshore Wind (CVOW) pilot project off the coast of Virginia Beach) are currently operational in the United States. The 30 GW of offshore energy is enough to power 10 million homes and cut 78 million metric tonnes of carbon dioxide per year. For offshore wind development the Interior’s Bureau of Ocean Energy Management (BOEM) also announced the plan to auction nearly 800,000 acres in the New York Bight, an area that stretches from Long Island, New York, to the New Jersey coast.

The ambitious offshore wind target will support around 77,000 jobs and trigger more than $ 12 billion per year in capital investment in projects on both U.S. coasts. If fulfilled this 2030 target would also unlock a pathway to deploy 110 GW or more of offshore wind capacity by 2050. To realize this target of 30GW offshore Wind DOE expects to offer $3 billion in loans to the offshore industry, in addition to awarding $8 million to research and development projects through a separate existing loan program.
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