Biden presidency points to growth for offshore wind industry

The new administation's policies are likely to put the focus back on renewable energy

(BALTIMORE) — Joseph Biden’s presidency, which will begin Jan. 20, 2021, promises to usher in a renewed focus on renewable energy strategies, including the offshore wind energy industry. Under the Biden administration, it is expected that offshore wind will experience substantial growth from projects, supply chain development, and job creation.

The U.S. offshore wind sector already has 30 GW in capacity procurement commitments from East Coast states. President-elect Biden has indicated he intends to provide a level playing field with tax policies for clean energy technologies, possibly a multi-year extension of tax credits for all renewables projects and complimentary standalone battery storage, and by reducing the country’s fossil-fuel subsidies.

“The American electorate voted for a future that focuses on climate change solutions, re-engages on the international stage, and commits to addressing racial and social inequity across our nation,” said Liz Burdock, CEO of the Business Network for Offshore Wind. “The election of President-elect Joe Biden puts the offshore wind energy industry on the precipice of substantial growth with the support of an administration that promises to put significant focus back on renewable energy, offshore wind among the beneficiaries.”

National Ocean Industries Association (NOIA) President Erik Milito issued the following statement on the election of Biden as the next U.S. president:

“While the political landscape may look different after today, the promise of American energy remains constant. From offshore wind projects along the Atlantic Coast to oil and gas production in the Gulf of Mexico, the benefits of American energy production lift every American, regardless of party. NOIA congratulates President-elect Biden on his election win and looks forward to working with his administration and the incoming Congress.

“Whether they are freshly elected or incumbent, our elected officials should recognize that the U.S. offshore energy industry is an irreplaceable asset. The offshore industry provides a foundation of homegrown energy, jobs, economic opportunity, and billions of dollars of government revenue. These benefits are provided with a focus on safety and environmental stewardship, precluding many issues associated with environmental justice, as production occurs many miles from onshore populations. And America’s offshore oil and natural gas producers, wind operators and service and supply companies are already aligned to innovate and scale the innovation and technologies needed to solve energy challenges, including climate change.

“Together, we can pursue an offshore energy agenda that helps every American,” Milito said.

Tom Kiernan, CEO of the American Wind Energy Association, issued the following statement:

“We look forward to collaborating with his administration and Congress as we work together to shape a cleaner and more prosperous energy future for America. The president-elect and his team have laid out an ambitious, comprehensive approach to energy policy that recognizes renewable energy’s ability to grow America’s economy and create a cleaner environment, while keeping electricity costs low and combating the threat of climate change.

“The U.S. wind sector and its growing workforce of over 120,000 Americans stand ready to help put that plan into action and support the Biden administration in delivering on the immense promise of renewable energy to add well-paying jobs to the U.S. economy and reach the president-elect’s 100 percent target for a carbon-free America by the middle of this century.”

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Deepwater Wind’s Block Island project off the coast of Rhode Island. Deepwater Wind photo

 

Categories: Maritime News