THE PROSPECT OF OFFSHORE WIND ENERGY ACCORDING TO THE INFLATION REDUCTION ACT OF 2022

Gaffney-Final

The adoption of clean technology has become pivotal in the nationwide attempt to rely on renewable energy sources. In recent
years, the federal government has increasingly supported investment in offshore wind turbines. With the promulgation of the Inflation Reduction Act of 2022, the Biden administration seeks to financially incentivize offshore wind infrastructure, to attain 30 Gigawatts of energy generation capacity from offshore wind by 2030. Unfortunately, this goal seems increasingly unattainable, on such a short timeline, given the nation’s current generation capacity. This Article analyzes a mix of economic, environmental, and technological challenges that pose a threat to the timely realization of the Biden administration’s offshore wind benchmarks. Additionally, it will explain why a regional approach to offshore wind development might alleviate some of these challenges, and better promote an effective and efficient use of state and administrative resources.

Author: Sean Gaffney

PDF: https://ncjolt.org/wp-content/uploads/sites/4/2023/12/Gaffney-Final.pdf

Volume 25, Issue 2