White House issues more financial support for offshore wind projects
Offshore wind energy is beginning to gain more support in the United States. The Obama administration has been pushing for the expansion of clean power throughout the country recently and during a recent White House summit, the federal government offered more support for wind power. The Department of Energy has awarded $592,683 in competitive grants to organizations in Maine, Massachusetts, New York, and Rhode Island. The funds are meant to advance the offshore wind energy market and the development of new projects.
Wind energy has huge potential in the US
Offshore wind projects have a great deal of potential when it comes to energy production. Wind currents at sea are typically stronger and more consistent than currents found inland. This is because the ocean has no physical barriers that constrict the flow of the wind, allowing wind farms to generate more power. The U.S. has shown strong interest in wind energy, but offshore projects are beginning to pull more support from the government, whereas onshore projects are seeing a modest lost in momentum.
Offshore projects may be able to provide 4.5 million homes with power by 2030
Federal officials believe that offshore wind projects will provide enough energy to power 4.5 million homes by 2030. The funds from the Department of Energy are expected to help support the development of projects that may make this predication a reality. The New York State Energy and Research Authority is one of the organizations that will be using the funds to invest in offshore wind energy. The organization is leading its partners in this endeavor and will be administrating projects that are being developed by other states.
Offshore wind is gaining more support despite its high costs
While offshore wind energy has a great deal of potential, it is also quite expensive. Offshore projects are more costly to develop than their onshore counterparts. As such, offshore projects require a significant amount of financial support from the federal government as well as the private sector. This financial support will be pivotal in ensuring that the offshore wind market takes form in the country.