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Climate projects slow, but a 30GW pipeline of offshore wind projects meets U.S. goals

The U.S. may be falling short of the near-term renewable energy development goals it needs to hit to reach its 2050 zero emission target, but its offshore wind goals are on track.

There's already a pipeline of 30.7 gigawatts of planned offshore wind projects, according to a new report by S&P Global Market Intelligence. That figure puts the nation on track to meet President Joe Biden's target of 30 GW of offshore wind projects by 2030.

To meet that goal though, the nation will need to pick up the pace. Of that massive figure only 4.7 gigawatts are expected to be built and operational by 2025. Another 16 gigawatts is expected to come online by 2030, with the remainder still lacking a completion target.

Developing all of those wind projects will mean construction projects across 1.7 million acres of federal waters for 18 offshore projects that have been leased since 2012.

Later this month, the Interior Department will hold a lease sale for nearly half-a-million acres off the coasts of New York and New Jersey. That sale alone will allow another 7 gigawatts of wind capacity to come online, according to the S&P reporting.

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