November 17, 2021
The development of the U.S. offshore wind market has been driven by federal and state energy policies facilitating the procurement of contracted offshore wind capacity along the East Coast while also providing tax incentives as another mechanism to promote development. In March 2021, the Biden Administration announced its plan to support and expand the development of offshore wind as a renewable energy source. As part of a $3 trillion economic recovery package focused on improving infrastructure and reducing emissions in the U.S., the Biden Administration set a goal to reach 30 GW of offshore wind turbines by 2030.