One Of Biden’s Favorite Green Industries To Miss 2030 Target By Years Despite Billions In Subsidies, Report Finds

Offshore wind is likely to miss the Biden administration’s 2030 target for the industry despite receiving billions of dollars of subsidies, according to a Tuesday American Clean Power Association (ACP) report.

The administration has a stated goal of having the offshore wind industry provide 30 gigawatts (GW) of power by 2030, but the ACP report projects that capacity will only reach about 14 GW by then. The Biden administration has subsidized the industry to the tune of billions of dollars since assuming office in 2021, but those efforts appear unlikely to put the 2030 target in reach until at least 2033, per ACP’s analysis.

“Market analysts forecast that there will be 14 GW of offshore wind deployed by 2030, 30 GW by 2033, and 40 GW online by 2035,” ACP said in a press release accompanying the report’s publication. “These outlooks build on the 7.6 GW of offshore wind projects seeking to be operational by the end of 2027.”

The offshore wind industry received a major boost from the Inflation Reduction Act