Marine Link
Tuesday, June 25, 2024

Nearly $1 Billion Dedicated to US Floating Wind Development

Maritime Activity Reports, Inc.

May 17, 2024

Source: DOE

Source: DOE

The U.S. departments of Energy (DOE), Interior, Commerce, and Transportation has released a report summarizing their progress toward the goals of the Floating Offshore Wind Shot™, an interagency initiative to drive U.S. leadership in design, deployment, and manufacturing. The report shows that, since the initiative's launch in September 2022, the Biden-Harris administration has dedicated over $950 million in planning, leasing actions, research, development, demonstration, deployment and more to realize the full potential of this renewable power source.

About two-thirds of the country's offshore wind potential is in waters that are deep enough to make floating offshore wind turbines more practical and cost-effective than fixed-bottom turbines. Expanded floating offshore wind deployment would bring the benefits of clean power to millions of Americans, create thousands of jobs, and stimulate domestic manufacturing. The interagency Floating Offshore Wind Shot positions the US as a leader in floating offshore wind and is expected to reduce the cost of floating offshore wind energy by more than 70% by 2035.

The Floating Offshore Wind Shot is part of DOE's Energy Earthshots Initiative™, which drives major innovation breakthroughs in eight clean energy technology sectors critical to decarbonizing the American energy system and solving the climate crisis.

The Floating Offshore Wind Shot: Progress and Priorities report documents more than 50 achievements since the Floating Offshore Wind Shot was established. These include:

• The first floating offshore wind lease auction in California and the proposal of 10 new lease areas, two in Oregon and eight in the Gulf of Maine.

• A $426.7 million investment from the U.S. Department of Transportation in the first offshore wind terminal on the Pacific Coast.

• Expanded support for innovative, floating turbine designs from DOE's Advanced Research Projects Agency.

• Advances in planning for the transmission of power from floating offshore wind projects to West Coast communities.

• Monitoring the presence of bird, bat, and marine mammals in potential energy development areas.

The report also establishes a series of near-term priorities, developed in consultation with a range of stakeholders, that will accelerate progress toward the initiative's overarching goals. These goals include cost reduction through technology innovations, supply chain development, expanded deployment, transmission development, and co-generation opportunities for economywide decarbonization.

DOE also announced the five winners of Phase Two of the FLoating Offshore Wind ReadINess Prize, a first-of-its-kind competition that incentivizes participants to solve the floating offshore wind industry’s most pressing supply chain challenges. Phase Two winners were selected for their progress in developing plans for mass manufacturing and deployment of their floating offshore wind energy substructure designs. Teams will receive $450,000 cash and $100,000 in vouchers for technical support and move on to the final phase of the prize competition. The winning teams are:

FloatHOME (Emeryville, California)
PelaStar (Seattle, Washington)
Technip Energies (Houston, Texas)
TETRA TRIPLE-ONE (Boston, Massachusetts)
WHEEL-US (Coral Gables, Florida).

Last month, DOE announced its intent to issue $20 million in funding for projects that improve floating offshore wind systems through refinement and innovation in floating platform design, manufacturing, deployment and integrated turbine/platform research. The funding opportunity will also offer $3.5 million for the establishment of a floating offshore wind Center of Excellence.