Posts tagged New England Fishermen’s Stewardship Association
Biden-backed wind power company cancels New Jersey projects despite $1B in subsidies
November 1, 2023 // Under the Inflation Reduction Act, renewable developers stand to receive tax credits of up to 30% for qualifying investments that use union labor, and more credits if the project meets additional criteria. White House spokesperson Michael Kikukawa said in a statement that “momentum remains on the side of an expanding US offshore wind industry,” despite the collapse of the Ocean Wind project. “While macroeconomic headwinds are creating challenges for some projects, momentum remains on the side of an expanding U.S. offshore wind industry — creating good-paying union jobs in manufacturing, shipbuilding, and construction; strengthening the power grid; and providing new clean energy resources for American families and businesses,” Kikukawa said.