Ocean Conservancy’s Senior Director of Climate Policy, Anna-Marie Laura, has issued the following statement:

“The finalisation of the tech neutral tax credits could change the pace and makeup of America’s clean energy transition and unleash the power – literally – of clean, ocean-based energy sources like offshore wind, wave, and tidal energy. The tech neutral tax credits are a foundational piece of the IRA and provide the certainty and incentive developers have been waiting for to advance offshore renewable energy. These tax credits help level the playing field for renewable energy in a market where oil and gas has enjoyed over a century of subsidies. Making these effective immediately is what our country and the whole planet need to transition away from dirty oil and gas to renewable energy for a clean, healthy future.

“This rule will catalyse America’s offshore wind industry and the jobs, manufacturing, and energy security that come with it. By our estimates, more than half of the offshore wind capacity approved so far need these credits to start construction. This rule makes it possible for these and other new projects to access the tax credits they need to move forward in 2025 and beyond.

“We are optimistic that we can meet our economy’s growing energy demands with clean electricity produced here in the US that helps the ocean, wildlife, and people.”

For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.

Energy Global’s Winter 2024 issue

Don’t miss out on our last issue of the year! The Winter issue of Energy Global is out now; this issue kicks off with a guest comment from Veronica Maxted, Director of Renewables at RS Group before moving on to a regional report on the current state of the renewables industry in North America. This edition of the magazine also explores key topics such as inspection and maintenance, solar optimisation, energy storage technology, geothermal drilling and operations, and much more. With contributions from key industry leaders such as Viridien, Hexagon, DNV Energy Systems, and Halliburton, among others, dive into the issue and see what you could learn.