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Offshore wind is going through some rough waters.
Last week, the industry saw a big setback as Danish wind giant Ørsted canceled its Ocean Wind I and II projects off the New Jersey coast. The company blamed supply chain issues and rising interest rates for the decision — issues that had been threatening wind projects up and down the East Coast for months.
So far, those other major projects are still slated to be built, and they’re critical to keeping the Biden administration’s clean energy goals on track. But to make sure that happens, other Northeast states like New York will have to pick up New Jersey’s slack, Politico reports.
Still, industry analysts aren’t sure state action will be enough to preserve Biden’s wind goals. That’s why governors and lawmakers are calling on the federal government to step in to speed up offshore wind farm permitting and make sure projects can fully take advantage of federal tax incentives, E&E News reports.
But there’s good news for the industry, too. On the same day New Jersey’s two projects sunk, the Biden administration approved what is slated to be the country’s biggest offshore wind farm: a 176-turbine project off Virginia’s coast that’ll be able to power as many as 660,000 homes.
More clean energy news
💰 Financing a “carbon bomb”: Banks around the world financed “carbon bomb” projects to the tune of $150 billion last year, paving the way for developments that could each pump a gigaton of carbon dioxide into the atmosphere. (Guardian)
🛠️ Clean jobs are coming: The Inflation Reduction Act is expected to create more than 300,000 construction jobs annually as it spurs clean energy development, plus another 100,000 jobs in operating those projects. (Canary Media)
🔋 Battery shortages aren’t so bad: As automakers slow their rollouts of electric vehicles, an industry trade group says it will actually help battery manufacturers scale up and rely less on China for materials. (E&E News)
🧾 Carbon tax collab: Three Republicans introduce a bill to levy fees on imports from countries with high carbon emissions, and Democratic senators look to find common ground. (E&E News)
🚂 Ticket to electrify: The world’s first battery-powered heavy freight locomotive made its debut last week, but electrifying the U.S. rail system is still in very early stages. (Canary Media)
🛫 Prepare for takeoff: The journey of a Beta Technologies’ electric plane down the East Coast provides a glimpse into the future of electric aviation. (New York Times)
⚡ Hawaii’s clean power success: A Hawaii utility cooperative says its publicly owned grid model has helped it reach its goal of generating 60% of its electricity from clean energy sources. (Canary Media)
🏁 A Texas-sized climate win: Austin, Texas, becomes the largest city in the country to drop minimum parking requirements for new developments in a move aimed at lowering emissions and increasing housing supply. (Texas Tribune)
🏗️ Buildings are getting cleaner: Inflation Reduction Act incentives for building electrification, efficiency measures, and solar and storage installation could help cut building emissions as much as 70% by 2035, a U.S. EPA analysis finds. (Utility Dive)
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