Trump's Offshore Wind Challenge: Can He Kill the Industry?

As the U.S. offshore wind industry gains momentum, former President Donald Trump has vowed to halt its progress. In a rally in Wildwood, New Jersey, Trump pledged to end offshore wind development on his first day in office if re-elected. But can he succeed in killing the industry, and what are the potential consequences?

Trump's opposition to offshore wind is not new. In 2017, his administration delayed the approval of the first large-scale offshore wind project, Vineyard Wind, off the coast of Massachusetts. However, the project has since secured permits and is moving forward. Other projects, such as Ørsted's Revolution Wind and Vineyard Wind, are also in advanced stages and are likely to proceed.
The Biden administration has set a goal of installing 30 gigawatts of offshore wind energy by 2030, enough to power 10 million homes. This ambitious target has the industry worried about a potential Trump presidency halting $1 trillion of investments in clean energy. A report by Wood Mackenzie suggests that a Trump win could delay or even reverse the progress made in offshore wind development.

Trump's executive order could potentially delay or halt ongoing offshore wind projects. However, projects already in advanced stages, like Vineyard Wind and Ørsted's Revolution Wind, are likely to move forward. The Biden administration is fast-tracking permits to complete the process before Inauguration Day, aiming to protect these projects from potential Trump administration interference.
States like New Jersey are committed to offshore wind development, having invested over $637.7 million in an offshore wind port. The Special Initiative on Offshore Wind is developing contingency plans, and the industry is fundraising for Vice President Harris. Tim Fox, an industry analyst, notes that a Trump presidency could halt $1 trillion of investments in clean energy.
If Trump succeeds in halting offshore wind development, the U.S. would miss out on significant economic benefits. By 2030, 30 GW of offshore wind could power 10 million homes, support 77,000 jobs, and spur $12 billion per year in direct private investment (DOE, 2024). Additionally, offshore wind can help achieve a carbon-free electricity sector by 2035, reducing emissions and combating climate change. However, halting development could lead to job losses and slower economic growth in coastal communities.
In conclusion, while Trump's executive order could potentially delay or halt offshore wind projects, the industry's momentum and state support make it challenging for him to succeed in killing the industry entirely. The economic and environmental consequences of halting offshore wind development would be significant, making it crucial for the industry to continue pushing forward despite potential political headwinds.