At the end of last year Mentor IMC Group wrote about Vineyard Wind, the first large-scale offshore wind energy project in the US. Vineyard Wind, operated by Iberdrola, will consist of 100 offshore turbines, to be constructed from 2019, with 800MW of power supplying up to 450,000 homes and first operations is expected in 2021.
Since the end of 2018 confidence in the US offshore, and onshore, wind market has surged to new highs with several projects in the planning phase.
Offshore wind tax credit extension will jumpstart U.S. industry
Earlier this week The American Wind Energy Association (AWEA) extended its support to two new bills introduced to the US Sentate, which are both targeted to extend the federal Investment Tax Credit (ITC) for offshore wind energy.
Energy developers are preparing to start construction on its first wave of large-scale wind farm projects in the US. Support and continuation of the ITC will drive infrastructure investment and create tens of thousands number of American jobs – across the country.
In regards to job creating there’s also a huge opportunity for U.S. supply chain businesses, including those with experience in offshore oil and gas, to construct and service offshore wind farms. According to the University of Delaware’s Special Initiative on Offshore Wind, building 18.6 GW of offshore wind capacity by 2030 would create a nearly $70 billion opportunity for businesses in the industry supply chain.
Wind Farm projects in the US: