Wind - March 31, 2021
DOE targets 30 GW of new offshore wind by 2030
The U.S. Department of Energy announced March 29 a national goal to 30 GW of offshore wind by 2030, a target that would cut 78 million metric tons of carbon emissions and power 10 million homes.
Secretary of Energy Jennifer Granholm released the department’s plan and cited President Biden’s Executive Order to address the climate crisis by deploying renewable energy as the source for the goal. The initiative includes $12 billion in capital investment annually and the construction of up to 10 new manufacturing plants to wind turbine components.
The plan will also lead to the construction of new ships to install offshore wind turbines and up to $500 million in port upgrades. If successful, this new infrastructure could support the future development of more than 110 GW of offshore wind by 2050.
“This offshore wind goal is proof of our commitment to using American ingenuity and might to invest in our nation, advance our own energy security, and combat the climate crisis,” Sec. Granholm said in a statement. “DOE is going to marshal every resource we have to get as many American companies, using as many sheets of American steel, employing as many American workers as possible in offshore wind energy—to drive economic growth from coast to coast.”
The DOE’s Loan Programs Office (LPO) will facilitate access for up to $3 billion in funding through LPO’s Title 17 Innovative Energy Loan Guarantee Program. The DOE will also be investing $8 million into 15 new offshore wind research and development projects.