INSIGHTSSERIES
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February 17, 2025
Policy Changes and Economic Challenges Threaten U.S. Offshore Wind Industry Growth
The Trump administration’s pause on leasing and permitting disrupts momentum, raising concerns over project delays, investment risks, and the future of U.S. offshore wind development.
The U.S. offshore wind industry is grappling with a changing landscape amid policy changes and economic challenges. President Donald Trump’s recent executive action halting offshore wind leasing and permitting has come as a major setback for the industry. While projects that have already secured…Read the full report
Key Takeaways
- The U.S. offshore wind industry has been beset by President Donald Trump’s executive action ordering a pause on new leases until the completion of a comprehensive assessment of leasing and permitting practices.
- New Jersey has decided not to proceed with an award in the state’s fourth offshore wind solicitation, citing Shell’s withdrawal from the Atlantic Shores project and uncertainty created by the federal pause on leasing.
- New York's utility regulator has approved a transmission line for the Equinor’s Empire Wind 1 offshore wind farm, which recently secured a financing package of over $3 billion to advance the project.
