Biden said his goal for offshore wind was to see hundreds of turbines installed by 2030, enough to produce 30,000 megawatts, or enough to power 10 million homes. Biden’s proposal aims to support the effort with $3 billion in federal offshore wind loan guarantees and big upgrades to coastal ports. The White House figures the resulting offshore boom could support 44,000 union jobs.
But that’s just the start. Today, Biden is calling in his infrastructure plan for a $100 billion investment in electric transmission, including 20,000 megawatts of high-voltage lines — just what the nation will need to get ever more wind and solar power from the oceans and plains into population centers. Biden’s planputting “hundreds of thousands of people to work laying thousands of miles of transmission lines and capping hundreds of thousands of orphan oil and gas wells and abandoned mines.
So far the United States has just two operating offshore wind installations — the biggest, Block Island Wind, off Rhode Island, features only four turbines that were a struggle to install, despite huge subsidies. But the wave is coming, not by Biden decree, but years in the making. The federal government for nearly a decade has been auctioning off windy stretches of the Atlantic for development. The permitting has taken years.
Well worth a read.... REPORT Out to Sea: The Dismal Economics of Offshore Wind
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Source: Forbes - 🏆 394. / 53 Read more »