Billions Pouring into U.S. Offshore Wind Despite Setbacks

As part of government plans for a green transition, the U.S. has been rapidly developing its renewable energy capacity in recent years. While several sectors have taken off, the offshore wind industry has faced several challenges in establishing wind farms off coasts around the U.S., largely due to financial issues in the wind sector and equipment failures. So, with massive financial incentives coming from the Inflation Reduction Act (IRA) and other climate policies, will the U.S. be successful at establishing its offshore wind industry? There…