US offshore wind will fall short of Biden's 2030 goal, analysis says
By Reuters
July 9, 20245:42 AM EDT

July 9 (Reuters) - The United States will fall far short of the Biden administration's 2030 offshore wind goal but will catch up quickly in the following years, according to an analysis by an industry group published on Tuesday.

The American Clean Power Association (ACP) projected there will be about 14 gigawatts (GW) of offshore wind capacity along U.S. coastlines by 2030. That compares with a goal of 30 GW that President Joe Biden's administration laid out in 2021 as it sought to jumpstart the domestic energy industry.

Offshore wind is a key pillar of Biden's promise that fighting climate change will create jobs and invigorate the economy.

But soaring materials costs, high interest rates and supply chain snags have led multiple offshore wind companies in the last year to cancel or seek to renegotiate power contracts for planned U.S. offshore wind farms. Those challenges have cast doubt on the industry's ability to meet the administration's timeline.

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