Posted on July 15, 2021
The Biden Administration is making great strides in advancing offshore wind in the U.S. Long-stalled permits are moving forward, and the Administration has announced ambitious goals for offshore wind, which will create incredible opportunities for U.S. workers, manufacturers, shipbuilders, service providers and energy consumers.
With efficient permitting, the industry could quickly achieve scale and fuel the rapid development of domestic supply chains. Achieving scale will also benefit consumers by driving down costs and improving efficiencies.
In some countries where scale has been achieved, the cost of offshore wind has decreased by more than 65% in less than 10 years. Furthermore, a survey of 140 of the world’s foremost wind power experts published in April by Lawrence Berkeley National Laboratory concludes that the costs are expected to decline 17%-35% by 2035 and 37%-49% by 2050 for offshore and onshore wind facilities.
These gains and the benefits to associated industries present a unique opportunity for Americans of all political stripes. There are already 17 large-scale wind farms in the planning and permitting stages in every Atlantic Coast state from Maine to Georgia, championed by companies like Avangrid Renewables, Deepwater Wind, EDF Renewables, Ørsted, Shell Wind, Equinor and U.S. Wind.
Offshore wind holds tremendous economic promise for states like North Carolina with its strong manufacturing base, pro-business tax and regulatory environment, and a seemingly endless supply of highly skilled labor and first-class universities. The Tarheel State is just now developing its first projects, and the state has an ambitious goal to develop 2.8 gigawatts of offshore wind energy by 2030 and 8 gigawatts by 2040. That would power 2.3 million homes.
With 301 miles of coastline, North Carolina ranks second only to Florida along the Atlantic Coast and is home to a robust blue water economy. Avangrid Renewables is planning the 208-megawatt Kitty Hawk Offshore Wind Project that would begin construction in 2024, and will produce power to serve 700,000 homes when completed in 2030.
