"Vineyard Wind Powers Up, Marking a New Era for US Offshore Energy"
The United States has officially activated its first commercial-scale offshore wind farm, Vineyard Wind 1, contributing power to the New England grid, marking a significant step towards President Biden's goal of 30,000MW from offshore wind by 2030. However, the industry faces significant challenges, as highlighted by the cancellation of the Empire Wind 2 project in New York due to economic pressures such as inflation, high interest rates, and supply chain issues. Despite policy incentives, the offshore wind sector is grappling with financial viability, threatening the pace of growth needed to meet clean energy targets.