The budget law Congress passed this month — termed the “One Big Beautiful Bill” — took another swipe at the offshore wind industry, limiting substantial Biden-era tax credits that would allow wind developers to save or recoup hundreds of millions of dollars to build their projects.
Days after its passage, President Donald Trump signed an executive order aiming to further restrict access to these tax credits for renewable energy projects. And last week, the Interior Department issued a memo adding cumbersome review procedures for wind and solar.
Trump’s order directs the Treasury Department to issue guidance and take action next month. Experts are not sure what that will look like, but these recent Congressional and executive actions could imperil two Massachusetts offshore wind projects: New England Wind and SouthCoast Wind.
Much like Trump’s day-one memorandum freezing offshore wind permitting,…
