A look at the trajectory of Vineyard Wind is exemplary of the struggle to meet President Biden's offshore wind goals.
What’s the issue?
Soon after taking office in 2021, President Biden set a goal of having 30,000 MW of offshore wind power operating by 2030.
Why does it matter?
Most of this offshore wind power is supposed to be deployed along the East Coast. If this wind power is delayed, that will mean that the more traditional forms of energy, like nuclear, coal and gas-fired power, will be needed for much longer than desired by the states in the region.
What’s our view?
Using the project developer’s own estimated in-service date or our estimate if one is not available from the project, we can see that the projects that have received a draft environmental impact statement will not get President Biden anywhere near his goal of 30,000 MW by 2030. If the states in the Northeast are anticipating a similar increase in the offshore wind available to them, they will likely need to pare back those expectations and rely more on traditional forms of energy until these longtail offshore projects can come on line.
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