Biden-Harris Administration Releases Offshore Wind Liftoff Report and $48 Million in New Funding to Speed up Know-how and Manufacturing

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Newest Liftoff Report Finds Promising Pathways for Offshore Wind Improvement; DOE Broadcasts Newest Help for Offshore Wind R&D, Provide Chain Improvement, and Transmission Planning

WASHINGTON, D.C. — The U.S. Division of Power (DOE) at this time launched its newest report within the Pathways to Business Liftoff sequence, describing how the U.S. offshore wind sector is adapting to challenges and poised for continued progress to create tens of hundreds of recent, good-paying jobs and increase entry to scrub vitality for tens of millions of Individuals, with a path to deploying over 100 gigawatts (GW) by 2050. The Pathways to Business Liftoff: Offshore Wind report finds that the sector at this time is poised for liftoff, enabled by continued efforts to adapt to latest market challenges. The initiatives that transfer ahead within the subsequent a number of years will lay the inspiration for constant long-term deployment, decarbonization, and financial advantages throughout the nation in help of President Biden’s bold objectives of attaining a 100% clear energy sector by 2035 and a net-zero emissions financial system by 2050.

“Offshore wind is already powering over 100,000 American properties, and with the Offshore Wind Liftoff Report and new investments, the Biden-Harris Administration helps ship on the promise of this know-how to quickly scale over the approaching years,” stated U.S. Deputy Secretary of Power David Turk. “The offshore wind sector is making fast progress even within the face of macroeconomic challenges, poising the trade to create good jobs and supporting a clear, resilient vitality system.”

To assist ship on the potential of this trade, DOE at this time introduced its intent to fund $48 million in analysis and growth initiatives for offshore wind know-how growth, home manufacturing, and extra—new DOE funding that’s a part of broader federal assets that the Biden-Harris Administration is deploying to develop the American offshore wind trade. DOE can be saying its newest steps to help offshore wind transmission, together with help for standardization wants and steerage growth and a brand new evaluation for the Gulf of Mexico.

The Pathways to Business Liftoff: Offshore Wind Deployment report analyzes market challenges and options already underway, discovering that the sector is adapting to latest price pressures and can see decrease threat and prices as deployment scales over time. Key takeaways and insights embody:

• The U.S. offshore wind market is at an inflection level. Regardless of dealing with macroeconomic challenges, the sector is adapting, and improved threat mitigation is being constructed into trade planning. State management has been and can stay elementary, as will federal coverage, together with use of long-standing instruments and new assets made out there by means of the Bipartisan Infrastructure Legislation and the Inflation Discount Act.
• The sector is poised for Liftoff, starting with the ten–15 GW of initiatives with a path to ultimate funding determination within the subsequent few years. These initiatives will lay the inspiration for constant long-term deployment, decarbonization, and financial advantages throughout the nation. Long run, offshore wind can ship over 100 GW of fresh energy by 2050.
• Whereas prices elevated over the previous few years, there’s a path to price reductions shifting ahead. Value will increase had been pushed by fast inflation of apparatus prices, rising rates of interest, provide chain constraints, and schedule delays, however international price headwinds have begun to stabilize and new offtake solicitations de-risk growth going ahead. Governments and trade are drawing on classes discovered, with ongoing efforts to refine mission and provider procurement, foster regional collaboration for provide chain and transmission planning, and make investments to help obligatory enabling infrastructure.
• Offshore wind has a compelling and distinctive worth proposition. Offshore wind is a central pillar of decarbonizing coastal inhabitants facilities, and offtake prices replicate not solely the associated fee to generate clear energy, but additionally the associated fee to ship energy to coastal load facilities (transmission) and the chance to revitalize maritime infrastructure and home manufacturing. Offshore wind energy has a compelling and distinctive worth proposition that enhances different clear assets, with excessive capability components and robust winter manufacturing that help grid reliability and useful resource variety.

In help of accelerated offshore wind growth, at this time DOE additionally introduced:

$48 Million for Analysis Tasks to Tackle Main Areas of Want for Offshore Wind

• DOE’s Wind Power Applied sciences Workplace (WETO) launched a Discover of Intent to fund initiatives supporting accelerated nationwide analysis and growth for each floating and fixed-bottom offshore wind applied sciences for deployment off each coasts, partnerships to increase home offshore wind manufacturing and provide chains within the Nice Lakes area, offshore wildlife safety by means of new monitoring applied sciences, and U.S. tutorial management in floating offshore wind.

Funding Reality Sheet

• The Biden-Harris Administration launched a new interagency truth sheet that describes key federal assets out there to help offshore wind deployment. This contains tax packages, grants and funding alternatives, and federal financing packages from DOE, the Division of the Inside, the Division of Commerce, and the Division of Transportation.

Home Wind Turbine Blade Manufacturing Innovation RFI

• WETO is requesting data on the present state of U.S. home wind turbine blade manufacturing, future home blade manufacturing innovation wants, manufacturing workforce growth, and the way latest tax incentives and initiatives have an effect on stakeholder considering and techniques.

Atlantic Offshore Wind Transmission Standardization and Steerage

• In alignment with suggestions within the Atlantic Offshore Wind Transmission Motion Plan launched on March 21, the Grid Deployment Workplace (GDO) introduced forthcoming help for offshore wind transmission standardization wants and steerage growth.

Gulf of Mexico Offshore Wind Transmission Evaluation

• GDO and WETO are increasing their offshore wind transmission portfolio past the Atlantic and West coasts to incorporate the Gulf of Mexico area, starting with a literature assessment and gaps evaluation.

DOE develops its Pathways to Business Liftoff stories with intensive stakeholder engagement and system modeling. Further stories will likely be added within the coming months and continues to encourage public enter and stakeholder engagement by means of trade boards and through e mail to liftoff@hq.doe.gov. Be taught extra concerning the findings of the “Pathways to Business Liftoff: Offshore Wind” report and register for a webinar on Friday, Might 10, 2024 at 3:00 pm EDT.

Be taught extra about how DOE’s WETO, GDO, and the Mortgage Applications Workplace are supporting the development of home offshore wind vitality, and subscribe to the Catch the Wind e-newsletter for the most recent data on funding alternatives, occasions, and different information relating to offshore wind.

Information merchandise from U.S. DOE.