The following is a contributed article by Stephanie McClellan, director of the Special Initiative on Offshore Wind, a U.S. offshore wind energy policy and communications program based at the University of Delaware.
Last month the American wind industry hit a major milestone 100 gigawatts of total installed capacity. That's enough electricity to power the state of California and New Jersey combined for one year.
Offshore wind represents a large portion of new gigawatts in the pipeline, and we should do everything we can to keep it growing for the good of our economy and the health of our oceans. There's a revolution happening along our coasts, with the number of offshore wind projects ballooning over the past year.
And the costs have been plummeting. Global offshore wind prices have dropped 32% in the past yearand 12% in the past six months. A new outlook from the International Energy Agency predicts offshore wind generation will grow 15-fold in the next 20 years,emerging as a $1 trillion global industry.
While offshore wind is just finally hitting its stride here in the United States, Europe and Asia have proven how profitable it is to harness ocean winds to create electricity. Progress here in the U.S. in 2019 alone shows that we're well on our way to realizing the same profits. State commitments for offshore wind have now reached over 22 gigawatts by 2035 equal to the entire installed capacity in the world at the end of 2018.
According to my own analysis, by 2030, the U.S. offshore wind industry will expend some $70 billion to build the wind farms to meet the states' commitment, providing good jobs for some 40,000 people.
We don't have any time to spare to usher in this economic and energy opportunity. Last month, the UN's Intergovernmental Panel on Climate Change (IPCC)released a reporton oceans, ice and climate, and the news is grim.
All over the world, carbon pollution is making oceans more acidic and less oxygen-rich, while the warming temperatures are fundamentally changing ocean ecosystems. That means trouble for coastal fisheries, and the millions of people who rely on healthy fish populations for food. Meanwhile, rising sea levels are causing regular flooding in coastal communities, threatening clean water supplies and rusting away infrastructure.
Climate change is already costing coastal communities plenty, but fortunately, offshore wind can not only provide much-needed economic benefit but also play a crucial role as an emissions-free resource. In fact, the IPCC report explicitly says that ocean-based renewable energy sources, including offshore wind, can help address climate change and generate economic opportunities.
The climate benefits of offshore wind should be factored into any decision Congress makes on a potential tax credit extension package. Recent research from the Rhodium Group shows that extending the offshore wind investment tax credit through 2025 will help create more certainly in the market. This will allow the industry to invest in a strong domestic supply chain that will bring down costs and increase domestic manufacturing.
The offshore wind revolution will mean redevelopment of coastal communities and a reinvestment in neglected ports. Some communities have already experienced the benefits: New Bedford, a city with one of the highest unemployment rates in Massachusetts, has seen an increase in local jobsas it has strategically prepared to be a hub of operationsfor the industry. Block Island, the site of the country's first offshore wind farm, has seen a positive impact on tourismfollowing construction.
A thriving offshore wind industry goes hand in hand with a thriving community on shore. Acknowledging that other users of the ocean are concerned about new large scale developments in the ocean, I am confident the offshore wind industry can proactively work together with other users, to identify solutions that keep these exciting projects moving forward.
A good model of cooperation is the Joint Industry Task Forcerun by the Responsible Offshore Development Alliance, which exists to improve communication between the fishing industry and offshore wind energy developers. Another is the recently-founded Responsible Offshore Science Alliancewhich will work to increase data on fisheries and wind development to allow both industries to better understand the effects of wind on fisheries and ocean ecosystems.
The offshore wind sector is also proactively addressing the concerns of coastal communities with a forthcoming public participation guide that will give transparency and visibility into an otherwise overwhelming regulatory process.
The ocean has always been one of humanity's greatest resources, and most dangerous threats. With offshore wind, we can turn the power of the ocean from an existential risk to our coasts into an economic engine of health, clean energy and well-being. And it's already taking place, across the country and around the world.
The revolution is happening, one revolution at a time.
- Guest column: Mullins and Sharpe were pivotal in Tyler's growth - Tyler Morning Telegraph - August 1st, 2020
- These states are happiest with their standard of living - YouGov US - August 1st, 2020
- Lake Cowichan says it's Not The Wild West - My Cowichan Valley Now - August 1st, 2020
- Indigenous communities need to be partners in Canadas COVID-19 recovery plan - The Globe and Mail - August 1st, 2020
- Using the EU taxonomy as a guide to sustainable recovery - Investors' Corner BNP Paribas - August 1st, 2020
- The Pandemic Has Resulted in Record Savings, but Only for Some - NextAdvisor - August 1st, 2020
- Post-COVID Banking: Now is the Time to Make the Enterprise-Wide Risk Assessment Process Match the Rapidly Evolving Risk Environment - JD Supra - August 1st, 2020
- How Provident Fund is taxed: All you need to know - The Financial Express - August 1st, 2020
- India is consumption based economy and it needs logistics more than ever now: K Satyanarayana, Ecom Express - SME Futures - August 1st, 2020
- Greening The Grid: Resource Adequacy, Intermittency, & Carbon Pricing - CleanTechnica - August 1st, 2020
- University Alliance to Deliver Economic and Social Benefits to Wales - Business News Wales - August 1st, 2020
- Trade barriers are slowing plastic-pollution action. Here's how to fix it - World Economic Forum - August 1st, 2020
- What's on the Ballot: Commissioner of Public Lands - Auburn Examiner - August 1st, 2020
- Sunburn The morning read of what's hot in Florida politics 7.31.20 - Florida Politics - August 1st, 2020
- Indian Inc has to move towards decarbonisation: Thermax MD & CEO - The Financial Express - August 1st, 2020
- Seton Hall teams with East Orange to offer virtual summer work experience program - nj.com - August 1st, 2020
- Food waste and plastic pollution: 'The two key sustainability drivers are carbon and circularity' - FoodNavigator.com - August 1st, 2020
- 75 attend webinar on implications of Covid on economy - The Tribune India - July 31st, 2020
- Seton Hall Works with City of East Orange, Jamila Davis, Tamika Mallory and Yandy Smith to Bring Virtual Summer Work Experience Program to Area Youth... - July 31st, 2020
- Plug and Play Japan to Open its New Office "Plug and Play Osaka" - PRNewswire - July 31st, 2020
- Mawson Resources says funded to drill promising gold and silver targets in Mt Isa in Queensland - Proactive Investors USA & Canada - July 31st, 2020
- Government of Canada protecting the Lake Winnipeg basin Franais - Canada NewsWire - July 30th, 2020
- Strategic Resources Closes the Acquisition of the Mustavaara Mine in Finland - PRNewswire - July 28th, 2020
- Q&A: Tracy Zea, new chief of the Waterways Council - WorkBoat - July 28th, 2020
- Vietnam Threatens China with Litigation over the South China Sea - Lawfare - July 28th, 2020
- Program to deliver $1.2 million in grants to struggling small businesses will provide economic relief - Monroe Evening News - July 28th, 2020
- Chief Secretary to the Treasury delivers his first speech in the role to thinktank Onward - GOV.UK - July 28th, 2020
- Property/Casualty Insurance Industry Suffered Largest-Ever Drop in Surplus in the First Quarter of 2020 - GlobeNewswire - July 28th, 2020
- This is now the world's greatest threat and it's not coronavirus - World Economic Forum - July 26th, 2020
- Be a Weed Detective July 25th: An Introduction to Local Invasive Plants, Their Impacts, and How to Identify, Map, and Control Them - Tillamook County... - July 26th, 2020
- The Gig Economy Beyond COVID-19 | Fisher Phillips - JDSupra - JD Supra - July 26th, 2020
- Budget-minded business owners' love affair with gig workers is growing - CNBC - July 26th, 2020
- Art of change: Maintaining digital and physical balance in times of Coronavirus - The Financial Express - July 26th, 2020
- Indias new fisheries policy will increase private control over open access water bodies - Scroll.in - July 26th, 2020
- Bureaucracy needs revamping to enable growth and development - The Sunday Guardian - July 26th, 2020
- The weekend read: Making solar sizzle - pv magazine International - July 26th, 2020
- Faculty and Staff Authors Compile Impressive List of Works - Middlebury College News and Events - July 25th, 2020
- Be a Weed Detective July 25 | Community - Tillamook Headlight-Herald - July 25th, 2020
- Covid Redefines the State | DK Giri - Mainstream - July 25th, 2020
- Jordan's Prime Minister Says His Country Contained COVID-19 By 'Helping The Weakest' - OPB News - July 25th, 2020
- Business Botswana to roll out recovery plan - The Patriot On Sunday - July 25th, 2020
- Jordan's Prime Minister Says His Country Contained COVID-19 By 'Helping The Weakest' - KLCC FM Public Radio - July 25th, 2020
- Jordan's Prime Minister Says His Country Contained COVID-19 By 'Helping The Weakest' - Capital Public Radio News - July 24th, 2020
- Modern in the Making: Post-War Craft and Design in British Columbia - Dexigner - July 23rd, 2020
- Battle Creek seeks ways to keep people in their homes as evictions are expected to spike - Concentrate - July 23rd, 2020
- There Has To Be More To Mexicos Oil Sector Than Pemex - Forbes - July 21st, 2020
- Maine Forest Products Coalition selects Bangor marketing firm to lead industry growth and awareness campaign - Bangor Daily News - July 21st, 2020
- The future of nature and business: A blueprint for action | Greenbiz - GreenBiz - July 21st, 2020
- Missouri startup support funding gutted amid COVID; Advocates hope reversing course could fuel recovery - Startland News - July 21st, 2020
- Oil and Gas in Flux: After a Series of Stunning Defeats, What's Next for the Industry? - The Revelator - July 21st, 2020
- Cherokee Elk Study shows importance to Appalachian community and economy - The Cherokee One Feather - Cherokee One Feather - July 18th, 2020
- Taking on the... - Resource Recycling - July 18th, 2020
- Greening the Digital Economy - Security Boulevard - July 18th, 2020
- Trudeau urged to boost Canada's post-COVID economy by investing in nature - National Observer - July 18th, 2020
- Williams Receives Approval for Clean Energy Project To Serve Mid-Atlantic and Southeastern U.S. - Business Wire - July 18th, 2020
- Ontario Announces Next Round of Research Projects to Fight COVID-19 - Government of Ontario News - July 18th, 2020
- COVID-19 gives B.C. First Nation rare chance to examine tourisms impact on grizzly bears - Abbotsford News - July 18th, 2020
- After the pandemic: As workers are retrenched in Gulf, opportunity opens to rethink regions economic model - Times Now - July 18th, 2020
- August 22 is a day where we must reflect on what we're doing to the planet - HeraldScotland - July 18th, 2020
- Land O'Lakes and Microsoft form strategic alliance to pioneer new innovations in agriculture and support rural communities - Stories - Microsoft - July 18th, 2020
- McGovern: Federal govt. should 'step up' to address food insecurity - The Recorder - July 18th, 2020
- Coronavirus death rate: what it is, what it isn't and why US can expect it to rise - The Guardian - July 18th, 2020
- COVID-19 gives BC First Nation rare chance to examine tourism's impact on grizzly bears - Peace Arch News - July 18th, 2020
- Op-ed: It's more than the moniker higher ed needs review - GW Hatchet - July 18th, 2020
- Trudeau urged to boost Canadas post-COVID economy by investing in nature - Boundary Creek Times - July 16th, 2020
- Saskatchewan pilots hydrogen to fuel the future - Yorkton This Week - July 16th, 2020
- COVID-19 gives B.C. First Nation rare chance to examine tourisms impact on grizzly bears - Boundary Creek Times - July 16th, 2020
- The Oil Price Crash: Will the Kremlin's Policies Change? - Russia Matters - July 14th, 2020
- The Vancouver Art Gallery Previews Modern in the Making: Post-War Craft and Design in British Columbia - Broadway World - July 14th, 2020
- Saskatchewan pilots hydrogen to fuel the future - National Observer - July 14th, 2020
- Institute of Environmental Management and Sustainability recognised as NOCN Centre - Emirates News Agency - July 14th, 2020
- GravelHUB Revolutionizes the Global Aggregates Industry with the First Online Marketplace and Digital Connector Hub. - Canada NewsWire - July 14th, 2020
- Will Covid-19 Impact On Superalloys (Fe-, Ni- and Co- based) Market ? Identify Which Types Of Companies Could Potentially Benefit - Cole of Duty - July 14th, 2020
- Robotic Process Automation Market 2020: Global Survey Report, COVID-19 Impact and Overwhelming Hike of Billion-Dollar Industry - GlobeNewswire - July 14th, 2020
- How To Close The Digital Skills Gap: Wileys Bridge Strategy To Reinvent Learning And Career Development - Forbes - July 14th, 2020
- The Global Market for Packaging Machinery is Projected to Reach US$51.5 Billion by 2025 - PRNewswire - July 14th, 2020
- What happens to a government-based economy in a global pandemic? - CBC.ca - July 12th, 2020
- Africa's economy will recover slower than expected - IMF - Quartz Africa - July 12th, 2020
- Reality check: A look at Trumps claims on coronavirus, the U.S. economy and Biden - Globalnews.ca - July 12th, 2020
- Herald: Perspective: Unlocking the economy safely - Oherald - July 12th, 2020