How Donald Trump blew the offshore wind industry off course
1 min read
Summary
Production tax credits have been slashed by the Trump administration, casting a shadow over the US’ burgeoning offshore wind farms.
Trump halted federal leasing and permitting for any new wind projects and ordered a halt to construction of the $1.2bn Empire Wind project, despite it having federal and state approvals.
Dominion Energy and Danish company Dsted are also facing uncertainty over their offshore wind projects.
Trump is attempting to reverse tax credits for wind projects that were introduced under the Biden administration.
The US has a target of 30GW of energy from offshore wind by 2030 but this now looks unattainable.
Other countries, including China, are forging ahead with offshore wind farms, providing 4% of Europe’s electricity last year, with China installing more than half of the world’s offshore capacity in 2023.