After a surge of optimism, the U.S. offshore wind industry faces its most serious challenges yet. Just a year ago, the sector seemed poised for rapid growth, with East Coast states making offshore wind a centerpiece of their clean-energy and reliability strategies. Today, that progress has been sharply interrupted.
The reversal has been swift. Since returning to office, the Trump administration has halted new federal leases and permits and ordered work stopped on projects already under construction, moves that put billions of dollars in investment at risk. By September, Interior Secretary Doug Burgum declared that, under current policy, there is no future for offshore wind in the United States.
Yet the industry’s troubles, despite strong progress, began well before this political turn. Inflation, high interest rates, and supply-chain disruptions sharply increased project costs, forcing developers to cancel or…
