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wind money

The Environment

A new study from the American Clean Power Association suggests that the Biden administration’s plans for another round of offshore lease auctions could lead to $120 billion in investment and up to 128,000 jobs during construction. These new areas could support another 23-40 GW of offshore wind capacity – in addition to the 25 GW capacity potential of existing lease areas off the U.S. East Coast.

According to ACP, the Bureau of Ocean Energy Management (BOEM) proposal for seven new lease auction rounds Рcovering waters off California, Oregon, the Carolinas, New York, Maine, the mid-Atlantic and the U.S. Gulf Рcould generate up to $4.5 billion in federal revenue and add up to $85 billion to the GDP (over six years).

Read on.