Planning delays have slowed deployment of offshore wind
US takes on offshore permitting bottleneck
Funding boost for Bureau of Ocean Energy Management aimed at speeding up leasing and permitting of proposed projects
The recently passed Inflation Reduction Act (IRA) will boost the economics of US offshore wind projects, but streamlining the permitting process will be key if the country is to reach its goal of 30GW installed capacity by 2030. The act includes a 30pc investment tax credit (ITC) for offshore wind projects that begin construction before the start of 2026. It also reintroduces a ten-year production tax credit (PTC) of up to $15/MWh, according to law firm White & Case. Projects must fulfil a requirement to pay prevailing wages and to ensure a certain percentage of work be completed by qualified apprentices. Projects that fulfil domestic content requirements would be eligible for an extra
Also in this section
20 March 2025
While advanced economies debate peak fossil fuel demand, billions of people still lack access to reliable and affordable energy, especially in the Global South
14 March 2025
Ignoring questions of sustainability will not make the problems they focus on go away
12 March 2025
Launch of credit trading scheme likely to slip into 2026 as government grapples with complex market design challenges
11 March 2025
Direct air capture is still in its infancy, but organisations are seeking to leverage global collaborations and AI to discover new materials, with an aim of scaling up the technology and cutting costs
