Soaring costs and supply chain delays put US President Joe Biden's goal to deploy 30 GW of offshore wind this decade at risk. Some offshore wind developers say that the Inflation Reduction Act's subsidies are insufficient for projects to thrive in the current environment. The energy research firm expects 21 GW of offshore wind along US shores in 2030, breaking 30 GW by 2032. The nation currently has just two pilot-scale offshore wind farms capable of producing 42 megawatts of electricity. Stephanie McClellan, executive director of the offshore wind advocacy group Turn Forward, said making sure the first fleet of projects succeeds was more important than a particular timeline.

Source: News 24 September 16, 2023 16:37 UTC