U.S. to Invest $180 Million in Innovative Offshore Wind Projects

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The Obama Administration will invest $180 million in innovative offshore wind projects over the next six years as part of an initiative to promote a renewable energy sector that in the U.S. remains largely untapped.

The Department of Energy will select four projects developing “next generation” technologies that will achieve large cost reductions over existing wind energy technologies. U.S. officials hope these demonstration projects will help overcome some of the critical challenges facing the emerging industry, including installation of newer turbines, connecting to the power grid, and navigating the complex permitting process.

While energy analysts project that U.S. offshore wind resources have the potential to provide more than 4,000GW of wind energy, a litany of financial and political obstacles has slowed the development of several projects. “These investments are critical to ensuring that America remains competitive in this growing global industry that can drive new manufacturing, construction, installation and operation jobs across the country,” Energy Secretary Steven Chu said in an announcement.

Article appearing courtesy Yale Environment 360.

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Yale Environment 360 is an online magazine offering opinion, analysis, reporting and debate on global environmental issues. We feature original articles by scientists, journalists, environmentalists, academics, policy makers, and business people, as well as multimedia content and a daily digest of major environmental news. Yale Environment 360 is published by the Yale School of Forestry & Environmental Studies and Yale University. We are funded in part by the Gordon and Betty Moore Foundation and by the John D. and Catherine T. MacArthur Foundation. The opinions and views expressed in Yale Environment 360 are those of the authors and not of the Yale School of Forestry & Environmental Studies or of Yale University.