15 Sep, 23

Biden Administration’s Offshore Wind Plan Plagued By Soaring Costs

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The Biden Administration’s target to have 30 gigawatts (GW) of offshore wind by 2030 may not be feasible, analysts and industry professionals have told Reuters, as costs are rising and making projects more expensive than initially planned.  The Biden Administration targets to build 30 GW of offshore wind by 2030 as part of a plan to decarbonize the grid. However, interest rates, cost inflation, and supply-chain issues are making projects more expensive, while the industry wants less stringent requirements for subsidies…

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