WSJ: Offshore Wind Industry Gets a Boost From New Tax Tweak
March 22, 2024 The article discusses a new initiative by the Biden administration aimed at revitalizing America’s emerging offshore wind industry, which faced setbacks from inflation and supply chain issues last year. By expanding tax breaks, specifically allowing offshore wind farm developers to qualify for credits by including command-and-control equipment and onshore infrastructure in their project costs, the government aims to reduce the financial burden on these companies. This policy change could significantly lower the cost of developing offshore wind farms, potentially accelerating the industry’s growth.