The conversation around clean and green energy is getting louder. Every nation worldwide is trying to move from fossil fuels and non-renewable energy towards greener and more sustainable alternatives. In this movement and change, European nations and the USA have been key figures often making headlines.
The latest source of renewable energy being invested in in the United States is offshore wind. The US has excellent potential to install offshore wind farms and turbines as they have large water bodies present in the Great Lakes region, the Gulf of Mexico, the Pacific Northwest, Maine, Hawaii, and California.
Despite so much area and potential, the US is not a prominent figure in the offshore wind business. Currently, there are only two offshore wind farms present in the US. At the moment, European nations and China are much ahead in the industry, with Europe producing 25 GWs of energy and China producing 10 GWs from offshore wind farms. The United States, on the other hand, only has a total energy-producing capacity of 42 MWs from offshore wind farms.
However, there have now been a few more developments in the offshore wind industry in the United States. In May 2021, the Biden government approved the Vineyard Wind project. This project proposes the construction and operation of a wind farm on the coast of Massachusetts. If built on time, it would be operational by 2023 and have an energy-producing capacity of 800 MW.
The administration also aims to permit 16 offshore wind farms by the end of their term. Four other significant projects are being reviewed in 2021; Revolution Wind will be set on Rhode Island, South Fork for New York; Ocean Wind, set in New Jersey; and Empire Wind, set in New York.
The United States is not the only one interested in these projects. A lot of these projects are being backed by foreign investors and investments. A significant investor in the recently approved Vineyard Wind project is Avangrid. Avangrid is the US-based subsidiary of a Spanish company known as Iberdrola. Apart from Avangrid, a Danish firm, Copenhagen Infrastructure Partner co-owns the Vineyard Wind project.
Iberdrola and Qatar Investment Authority have collectively invested 4 Billion US Dollars in Avangrid. This investment will be used for two offshore projects, Vineyard Wind and Park City Wind, off the coast of New England.
However, there are some hurdles in these plans. Offshore wind projects are subject to environmental and offshore laws. Many people opposed to these plans can use the National Environmental Policy Act to challenge the plans. Plans being reviewed by NEPA are often delayed. There is also opposition regarding the impact these plans might have on marine life, the coastal views, and the noise pollution they may cause. Apart from this, workers will be needed too, and in case of any mishaps or injuries on-site, offshore laws will be applicable, and offshore injury lawyers will have to be involved.
Many of the concerns presented have been deemed negligible, such as damage to marine life. Many national and international investors are interested in these changes and the idea of going towards clean energy. If these projects get approved, there will be substantial backing to build these offshore wind farms. The Biden government has also set goals to install 30 GWs of US offshore wind capacity by 2030 and 110 GWs by 2050. If they stay on course, the US will probably overtake Europe and China.
