05 Mar '12, 12am

[email protected] Secretary Steven Chu unveils $180 million from DOE in new offshore wind funding

The US Department of Energy (DoE) is to make $180m available over the next six years to support up to four innovative wind farms off the coast of the country or in the Great Lakes. The projects are designed to accelerate the deployment of offshore wind technologies by addressing key challenges associated with installing utility-scale offshore turbines, connecting offshore turbines to the power grid, and navigating permitting and approval processes. FURTHER READING Ofgem outlines plan to build cheaper offshore wind grid links US wind industry warns 37,000 jobs at risk if tax credit lapses DoE funding will be doled out in annual $20m chunks to cover up to 80 per cent of a project's design costs and 50 per cent of the hardware and installation costs. The US is estimated to have offshore wind resources of more than 4,000GW along the Atlantic and Pacific coasts, the Great Lakes...

Full article: http://www.businessgreen.com/bg/news/2156864/chu-unveils-...

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