Posted on May 28, 2025
A new bill narrowly passed by the US House of Representatives will “derail” and “penalise” offshore wind projects which are eagerly waiting to get under way.
The reconciliation proposal, passed on Thursday, includes dramatic cuts to key provisions of the Investment Reduction Act (IRA), which is designed to bolster American manufacturing and transmission planning for the country’s offshore wind sector.
The bill, as currently drafted, will impact a number of shovel-ready projects by reducing development tax credits and imposing unworkable regulations on when tax credits can be realised.
Projects will also be harder to finance and developers will be penalised for using non-US supply chain manufacturers.
Liz Burdock, president and CEO of Oceantic Network, a key defender of the at-risk offshore industry, said: “The House of Representatives’ action denies ratepayers affordable and reliable electricity, stalls new energy development and threatens billions of dollars of investments and good-paying jobs across the United States.
“Offshore wind is making America more secure by revitalising industries critical to national defence, like steel production and shipbuilding, and powering the advancement of critical technologies.
“We must seize the opportunity to harness all available energy technologies in this technology race while keeping affordable and reliable power flowing to our communities.
“We urge the Senate to reverse these rollbacks which will prevent us from meeting rising energy demands before the next decade.
“Thousands of Americans building our energy future today are counting on it.”
