US confirms almost $1 billion spend in support of sustainable deployment of floating offshore wind

The US on Thursday confirmed it has dedicated more than US $950 million towards achieving the goals of its Floating Offshore Wind Shot mission.

The departments of Energy (DOE), Interior, Commerce, and Transportation released a report summarising progress toward the goals of the interagency initiative to drive US leadership in design, deployment, and manufacturing.

Funds for wind progress

The document showed that since the launch in September 2022, almost $1 billion has been devoted to planning, leasing actions, research, development, demonstration, deployment and more in an effort to realise the full potential of the renewable power source.

Jeff Marootian, Principal Deputy Assistant Secretary for Energy Efficiency and Renewable Energy, said the Biden-Harris administration was committed to unlocking the vast potential of floating offshore wind.

“It’s exciting to see this rapid progress advancing so many initiatives that support job growth, a stronger domestic supply chain, and more equitable, accessible, affordable clean energy across America.”

Renewable possibilities

The report reveals about two-thirds of the country’s offshore wind potential lies in waters deep enough to make floating offshore wind turbines more practical and cost-effective than fixed-bottom turbines. 

An expansion of floating offshore wind deployment would bring the benefits of clean power to millions of Americans, create thousands of jobs, and stimulate domestic manufacturing.

Taking a floating lead

Floating Offshore Wind Shot positions the US as a leader in floating offshore wind and aiming to reduce the cost of floating offshore wind energy by more than 70% by 2035. It is part of DOE’s Energy Earthshots Initiative, which drives major innovation breakthroughs in eight clean energy technology sectors critical to decarbonising the US energy system and solving the climate crisis.

The DOE is due to issue a $20 million funding for projects to improve floating offshore wind systems through refinement and innovation in floating platform design, manufacturing, deployment, and integrated turbine/platform research. The opportunity will also offer $3.5 million to establish a floating offshore wind Centre of Excellence.

Solar also gets a boost

The DOE also on Thursday announced $71 million investment to advance US solar manufacturing and development as part of the Investing in America Agenda.

Eighteen projects in 10 states will “supercharge” the US clean energy supply chain and open new markets for solar technologies. The funding includes $16 million from President Biden’s Bipartisan Infrastructure Law, for research, development, and demonstration projects to grow the network of domestic manufacturers. 

These will address gaps in domestic solar manufacturing capacity for supply chain including equipment, silicon ingots, and wafers, and both silicon and thin-film solar cell manufacturing. Selected projects will also open new markets for solar technologies such as dual-use photovoltaic (PV) applications, including building-integrated PV, and agrivoltaics.