The Joe Biden administration announced intentions last month to speed up the country’s transition to carbon neutrality by promoting wind farms in U.S. coastal waters. A booming offshore wind business has the potential to create employment creation while advancing President Biden decarbonization goal, thanks to many advantages over land-based turbines. Vineyard Wind, the country’s first commercial offshore wind farm, was approved by the federal government in May and began building in November off Martha’s Vineyard, Massachusetts.
In 2023, the project is planned to begin generating electricity. By 2025, the Interior Department hopes to lease federal waterways for more than a dozen projects along the Atlantic, Gulf, and Pacific coastlines. In addition, the Biden administration has vowed to cut U.S. greenhouse gas emissions by half from 2005 levels by 2030 due to its renewed commitment to the Paris Agreement. It sees ramping up offshore wind generation as a vital step toward that goal.
By 2030, offshore wind farms in the United States are expected to produce thirty gigawatts of energy, enough to power more than ten million homes. However, offshore wind output in the United States is minimal, accounting for less than 1% of the administration’s target. According to experts, achieving this renewable energy goal will avert the release of 78 million metric tonnes of carbon dioxide over the next ten years.
The National Renewable Energy Laboratory predicts that offshore wind in the United States has a technical resource potential of more than two thousand gigawatts. By 2050, Biden intends to unlock more than a hundred gigawatts of capacity. In addition, due to the more robust, more consistent winds at sea, offshore wind farms can produce more electricity than onshore projects.