U.S. Offshore Wind Industry Aims for Revival in 2024 Amidst Challenges

Fuel TechHigh Tech / High Touch
Written By Jennifer Joslyn

The U.S. offshore wind industry is looking to rebound in 2024 after a challenging year in 2023, marked by project cancellations and financial write-offs. Despite setbacks due to inflation, interest rate hikes, and supply chain issues, developers are hoping to revive projects by participating in upcoming solicitations in states like New York, New Jersey, Massachusetts, and Connecticut. The industry is expected to play a significant role in helping the U.S. achieve its clean energy goals, with capacity set to increase substantially in 2024 as commercial-scale projects come online, providing power to hundreds of thousands of homes.

Read more at Reuters >

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Jennifer Joslyn
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