<\/p>\n
Biden\u2019s climate action plan calls for a 100% clean energy economy and net-zero emissions by 2050. This would means a renewed focus on renewable energy, including offshore wind, as the United States is likely to rejoin the Paris Agreement on climate change.<\/p>\n
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Under the Biden Administration, it is expected that offshore wind will experience substantial growth from projects, supply chain development, and job creation, according to The Business Network for Offshore Wind, a non-profit that works to promote the offshore wind supply chain in the U.S.<\/p>\n
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As of now, the U.S. offshore wind capacity stands at 30GW in capacity from existing procurement commitments for projects off the U.S. East Coast. President-elect Biden has also indicated he intends to provide a level playing field with favorable tax policies for clean energy technologies, tax credits, and reduced subsidies to the fossil-fuel sector.<\/p>\n
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\u201cThe American electorate voted for a future that focuses on climate change solutions, reengages on the international stage, and commits to addressing racial and social inequity across our nation,\u201d said Liz Burdock, CEO of the Business Network for Offshore Wind. \u201cThe election of President-elect Joe Biden puts the offshore wind energy industry on the precipice of substantial growth with the support of an Administration that promises to put significant focus back on renewable energy, offshore wind among the beneficiaries.\u201d<\/p>\n
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According to the American Wind Energy Association, the nation\u2019s largest wind energy trade group, offshore wind developers are planning to bring 9,100 MW online by 2026. AWEA the offshore wind industry is poised to deliver up to 83,000 jobs and $25 billion in annual economic investments within the next decade.<\/p>\n
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\u201cThe President-elect and his team have laid out?an ambitious, comprehensive approach to energy policy that recognizes renewable energy\u2019s ability to grow America\u2019s economy and create a cleaner environment, while keeping electricity costs low and combating the threat of climate change,\u201d said Tom Kiernan, AWEA\u2019s CEO.<\/p>\n
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\u201cThe U.S. wind sector and its growing workforce of over 120,000 Americans stand ready to help put that plan into action and support the Biden administration in delivering on the immense promise of renewable energy to add well-paying jobs to the U.S. economy and reach the President-elect\u2019s 100% target for a carbon-free America by the middle of this century,\u201d said Kiernan.<\/p>\n
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