Lull in offshore wind development imperils Biden’s goals — report

Source: By Heather Richards, E&E News • Posted: Tuesday, June 11, 2024

A new analysis finds developers are slow-rolling projects amid inflation and supply chain constraints.

Wind turbines off the Rhode Island coast.

Wind turbines off the Rhode Island coast. Michael Dwyer/AP

President Joe Biden’s offshore wind target could be slipping further away, according to one major U.S. energy analysis firm.

Wind developers will build roughly 13 gigawatts of offshore wind farms in the U.S. by the end of the decade, according to BloombergNEF’s biannual outlook for the sector, released June 4. That’s down from the 14.5 gigawatts BNEF estimated in its last analysis.

Both outlooks fall far short of Biden’s commitment to reach 30 GW of ocean wind power by 2030.

The shifting horizon for offshore wind highlights how much inflation and a limited supply chain of ships and manufacturers continues to hinder the emerging sector and thwart the White House’s clean energy ambitions.