Tag: united states offshore wind

Novel California Law to Boost Offshore Wind Projects

The new law authorizes the California Department of Water Resources (DWR) to buy “clean” energy from these capital-intensive and hard-to-build offshore wind and other projects and to sell the power to utilities and eligible electric customers. Central procurement is considered important by some for the development of California offshore wind, which is facing profitability challenges from inflation, rising financing costs, and supply chain disruptions. Offshore wind developers have not started new projects since the December 2022 lease auction.

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US Offshore Wind: Poised for rapid expansion to meet climate goals

The US is actively working towards its ambition of achieving 30 GW of offshore wind (OSW) capacity by 2030. The country’s OSW industry, which has been witnessing significant activity, particularly over the last couple of years, is expected to contribute significantly to US’ goal of achieving a carbon-free electricity sector by 2035. In fact, the 2030 OSW goal establishes a pathway to deploy 110 GW or more of OSW by 2050.

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