The One Big Beautiful Bill Act (OBBBA), signed into law by President Trump on July 4, 2025, significantly modifies clean energy tax incentives enacted under the Inflation Reduction Act of 2022 (IRA). “What the US risks is falling behind in an industry it was well-positioned to lead, and that’s a real cost that will be felt in jobs and in the energy mix for years.” “Duke Energy will now be able to convert a national security concern into projects that will lower the costs for its customers in North Carolina and surrounding states.” As state regulators and utilities map out how to meet future demand, the loss of Carolina Long Bay narrows the range of options.
- Canary Media’s chart of the week translates crucial data about the clean energy transition into a visual format.
- These measures included the 30D New Clean Vehicle Credit and other clean energy tax credits as well as the 45X Advanced Manufacturing Production Credit.
- From jobs to local economic development to power costs, we believe canceling these offshore wind projects is a bad deal for American taxpayers.
- “Development within any industry likes consistency; for clean energy, the Trump administration has ensured a lack thereof.”
- Limiting the supply of homegrown energy will increase energy costs for Americans, especially in the regions where the wind farms were supposed to be located – New York, New Jersey, North Carolina and California.
- Vestas finished installing its wind turbines at Pattern Energy’s SunZia, the largest clean energy project in the US, last month, and the wind farm has now come online.
Operated by Equinor, it will feature 54 turbines (15 MW each) and deliver clean energy directly to New York City, powering 500,000 homes. Construction will support 900 jobs annually, with 1,100 jobs during operations. Operated by Ørsted and Skyborn Renewables, the $700 million project includes 65 turbines (11 MW each) and two offshore substations, creating 2,000 direct jobs. Operated by Vineyard Wind (a joint venture between Copenhagen Infrastructure Partners and Avangrid Renewables), the farm features 62 turbines rated at 13 MW each and will create over 1,000 union jobs. Valued at $3.5 billion, it will deliver 800 MW of clean energy, enough to power 400,000 homes and businesses.
- The project pipeline remains strong, the report found, with 222 GW of clean energy capacity planned or under construction nationwide as part of 693 GW of power announced through the first quarter.
- Meanwhile, India, with the world’s fifth-largest GDP and 30% of projects in construction, targets adding nearly 130 GW of prospective utility-scale solar and wind capacity in the upcoming years, and 35 GW of these additions will be connected to the grid by March 2025.
- The result is higher costs for future projects and for electricity ratepayers.
- The first phase created 2,000 jobs, and a second phase will add 1,260 MW with 84 more turbines.
- The debate reflects a broader divide over how to meet growing electricity demand while keeping costs down.
During construction, it has supported approximately 900 direct and indirect jobs annually. Like Dominion Energy’s project, Revolution Wind also faced a challenging market environment with rising costs for materials and components. Under cost-sharing arrangements, 50% of total project costs above $10.3 billion are borne by the project owners (Dominion and its partner Stonepeak). The project has received robust bipartisan support and all necessary federal approvals, including a Right of Way grant from the U.S. “The courts rightly blocked illegal regulatory attacks that drive up energy costs and slow down the development of new sources of electricity we urgently need,” E2 Federal Advocacy Director Sandra Purohit said in a statement.
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New York’s first offshore wind farm, South Fork Wind, is powering 70,000 homes on Long Island with 12 turbines generating 132 megawatts of clean energy. Under this approach, a project may establish beginning of construction by paying or incurring at least 5% of total project costs, followed by continuous efforts to complete the project. The One Big Beautiful Bill Act (OBBBA) rolled back a number of clean energy tax incentives. “Development within any industry likes consistency; for clean energy, the Trump administration has ensured a lack thereof.” The project pipeline remains strong, the report found, with 222 GW of clean energy capacity planned or under construction nationwide as part of 693 GW of power announced through the first quarter.
Vineyard Offshore Wind Farm
Comparing the share of global GDP and under-construction projects for G7, China, and the rest of the world illustrates an asymmetry for utility-scale solar and wind projects. China is not only leading the world in operating projects but it also plans to build more than two-thirds (70%) of all utility-scale solar and wind projects in the coming years. India has added at least 10 GW of new solar capacity annually since 2021 and has an operating capacity of solar and wind above 109 GW, as of December 2024. In the first seven months of 2024, solar and wind in the United States produced more energy than coal, a first for the country. China officially installed 277 GW of utility and distributed solar and 80 GW of wind in 2024, and GEM has tracked 136 GW of those utility-scale solar and wind installations to the asset level.
Slowing it down, as was demonstrated with the last stop work order, adds costs, and adding costs and delays in the data center capital of the world – we think doesn’t make sense.” “All the infrastructure that’s built up around it, all the jobs that are being created, the supply chains that are being supported in the Hampton Roads area — it’s setting Virginia up very well to be a big economic powerhouse on offshore wind going forward,” he said. She https://power-at-work.com/get-the-job-done-understanding-your-earthmoving-machinery/ noted the Bay State has offshore wind projects in various stages of permitting and development — including the just-completed Vineyard Wind project.
Duke Energy, the state’s largest utility, holds https://repairdesign24.com/interior/how-to-save-on-utilities.html a neighboring lease in the same area but paused development last year as it reevaluated costs and policy conditions. Offshore wind projects typically require high upfront investment but have no fuel costs once operational. The debate reflects a broader divide over how to meet growing electricity demand while keeping costs down. In a post on X, Gov. Josh Stein said the Trump administration is “spending nearly $1 billion in taxpayer money to pay off a company to stop investments in the clean energy we need,” calling it “a terrible deal for the people of North Carolina and our country.”
And in January, a judge found that the administration had illegally cut certain clean energy grants. In a statement to CBS News, Dominion said the Trump administration’s order threatens “thousands of jobs” and could create energy inflation. Floating wind projects face higher capital costs, ever-changing technology risks, and infrastructure hurdles. This can be narrowed down to floating wind assets where costs, supply chain constraints, and changing investment priorities are reshaping project ownership structures. The project pipeline is also looking healthy, with 222 GW of clean energy capacity planned or under construction nationwide. However, the ruling comes less than a month before the deadline to phase out clean energy tax credits under the One Big Beautiful Bill Act, according to The Hill.
Join the USWTDB mailing list to receive news about future updates and changes. Your feedback continues to be important to us so don’t hesitate to let us know what you’d like to see in future releases. WINDExchange is supported by experts from DOE’s Integrated Energy Systems Office and national labs, including the National Laboratory of the Rockies, Sandia National Laboratories, and Pacific Northwest National Laboratory. Valued at $735 million, the onshore wind farm project includes a long-term PPA with Microsoft, 250 union construction jobs and extends current operations workforce for over 35 years. Valued at $454 million, the project will create 11–13 permanent jobs. Linked to the SunZia Transmission Project, it will create 2,000 construction jobs and 100 permanent positions.
Although the permitting procedures for solar and wind farms differ in some countries, it is safe to assume projects under construction already secured land rights, permits, and grid interconnection pre-approvals before the beginning of construction. This means that only half the planned solar and wind capacity came online on time outside China and the G7, while one-tenth of this capacity was suspended. About 76% of solar and wind projects in G7 countries became operational within the originally planned time frame.
- Operated by Ørsted and Skyborn Renewables, the $700 million project includes 65 turbines (11 MW each) and two offshore substations, creating 2,000 direct jobs.
- Duke Energy, the state’s largest utility, holds a neighboring lease in the same area but paused development last year as it reevaluated costs and policy conditions.
- “We see a strong correlation between the high rate of cancellation and the anti-renewable policies from the Trump Administration — from aggressive executive orders through attempts to repeal pollution protections,” said David Villagrana, lead counsel for clean energy tax solutions at EDF.
- Let us show you how responsible renewable energy projects from LRE generate jobs and deliver reliable power for generations to come.
- GEM data included 185 GW of solar and wind farms that were under construction as of December 2023 and designated to become operational before the end of 2024.
Hai Long Offshore Wind Project
We need new supply right away,” and yet gas plants “are the longest to build.” Gordon argued that economics increasingly favors the clean energy pathway because the cost of building gas plants “has almost doubled in just a couple of years,” while solar and battery costs keep falling. Through channels including learning-by-doing, faster deployments also contribute to lowering the costs of these technologies. The 45X credit was meant to incentivize domestic processing of clean energy components, including critical minerals. A $1B federal deal canceled an offshore wind project off North Carolina’s coast, raising concerns about rising energy demand, future power costs and increased reliance on natural gas. Campbell said the administration’s decision to drop the appeal and the court’s formal dismissal “will preserve well-paying clean energy jobs and ensure access to reliable, affordable energy as Massachusetts continues to advance its climate goals.” From jobs to local economic development to power costs, we believe canceling these offshore wind projects is a bad deal for American taxpayers.
Offshore wind energy market: small start, big potential
More than 20 developers are involved in the project including China Longyuan Power Group, Goldwind, Beyondsun and Gansu Guazhou Baofeng Wind Energy Development Co. Let us show you how responsible renewable energy projects from LRE generate jobs and deliver reliable power for generations to come. LRE wind projects are built to today’s safety, efficiency, and performance standards, while cutting emissions, so communities get dependable power and a cleaner energy future. LRE wind projects are designed for efficiency and longevity, built to deliver reliable power today and well into the future. Aging power plants rely on finite fuels, while wind harnesses a renewable resource to generate electricity with no fuel costs and no direct air pollution. LRE-operated wind projects in the U.S. contribute to thriving local economies, support domestic production and labor, and train a resilient workforce ready to address the future of sustainable energy.