Top
image credit: Adobe Stock

New Report Says ‘Historic Expansion’ Coming for U.S. Offshore Wind

October 13, 2022

A new report from a business group that supports development of U.S. offshore wind projects details several factors that it says will contribute to a “historic expansion” of the technology over the next several years.

The Business Network for Offshore Wind’s inaugural “Offshore Wind Quarterly Market Report,” released Oct. 13, highlights how recent government actions to support the industry will impact growth. Those actions include the Inflation Reduction Act (IRA), which earmarked $369 billion in funding for clean energy initiatives, including billions in tax credits to support manufacturing of equipment used in offshore wind projects.

Read More on Power Magazine