The United States will likely spend more money developing offshore wind capacity than offshore oil and gas within the next five years, according to a new study.<\/p>\n
Installed offshore wind capacity off the coast of the United States could reach 20 gigawatts by 2030, generating annual investments of $15 billion in another five years, according to Rystad Energy,the Norwegian based energy research firm.Onegigawattprovides enoughpowerfor about 700,000 homes.<\/p>\n
Annual spending on U.S. offshore oil and gas projects is expected to average $14.8 billion between now and 2025, according to Rystad.<\/p>\n
RELATED:Next year will be tipping point for wind in Texas<\/p>\n
Six gigawatts of offshore wind projects in U.S. waters are already slated for development and are expected to cost more than $20 billion over the next five years. By the middle of the decade -- if regulators continue to give the green light to offshore wind projects -- annual investment is expected to top $15 billion, according to Rystad.<\/p>\n
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Wind power could be dominant offshore energy focus within 5 years - Houston Chronicle<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" The United States will likely spend more money developing offshore wind capacity than offshore oil and gas within the next five years, according to a new study. Continue reading