Earlier today, the US House of Representatives narrowly passed the current reconciliation proposal, which includes dramatic cuts to key provisions of the Investment Reduction Act (IRA).
The IRA was designed to bolster American manufacturing, develop a competitive, local supply chain, and establish interregional transmission planning for offshore wind energy.
“The House of Representative’s action rolling back key provisions of clean energy and manufacturing tax credits denies ratepayers affordable and reliable electricity, stalls new energy development, and threatens billions of dollars of investments and good-paying jobs across the United States,” said Liz Burdock, president and CEO of Oceantic Network.
“Offshore wind is making America more secure by revitalizing industries critical to national defense, like steel production and shipbuilding, and powering the advancement of critical technologies.
“We must seize the opportunity to harness all available energy technologies in this technology race while keeping affordable and reliable power flowing to our communities.
“Offshore wind is a shovel-ready industry with 10 GW prepared to come online by 2030, underwritten by a 40-state supply chain.
“We urge the Senate to reverse these rollbacks which will prevent us from meeting rising energy demands before the next decade.
“Thousands of Americans building our energy future today are counting on it.”