The Biden administration said that it intended to fast-track permits for projects off the Atlantic Coast and that it would offer $3 billion in federal loan guarantees for offshore wind projects and invest in upgrades to ports across the United States to support wind turbine construction.
Vineyard Wind is broadly viewed as a test of the Biden administration’s ability to speed up permitting offshore wind projects while navigating concerns from some labor groups as well as commercial fishermen and others.
“It’s a big deal, and not just for Vineyard Wind. This is the icebreaker, it’s the first one, it’s charting the course,” Rafael McDonald, an electricity and renewable analyst at IHS Markit, said after the Biden administration released its initial environmental review in March. “There’s all this pent-up demand from state mandates, and Vineyard Wind is the bellwether.”
Electricity generated by the Vineyard Wind turbines will travel via cables buried six feet below the ocean floor to Cape Cod, where they would connect to a substation and feed into the New England grid. Construction would begin later this year; the project’s developers say it could be operational by 2023.
In addition to Vineyard Wind, a dozen other offshore wind projects along the East Coast are under federal review. The Interior Department has estimated that by the end of the decade developers of offshore wind projects could install at least 2,000 turbines from Massachusetts to North Carolina.
The effort fuses the administration’s goal of cutting planet-warming greenhouse gas emissions with its promise that renewable energy will create new economic opportunities. Mr. Biden has pledged to cut United States emissions roughly in half by 2035. If Mr. Biden’s offshore wind targets are met, it will accomplish a chunk of that goal by avoiding 78 million metric tons of carbon dioxide emissions, the administration said.
Many Republicans are skeptical of Mr. Biden’s job creation claims and say the president’s plans — particularly his suspension of new oil and gas leases on federal lands and waters — are already hurting union workers in fossil fuel industries.