New York’s offshore wind industry faces a financial reckoning
Relative power
By Caroline Spivack
January 25, 2024
Getty Images
Developers want the state to share more of the risk to avoid the collapse of projects.
$15 billion
The expected in-state spending generated by three projects provisionally awarded in 2023.
Source: New York State Research and Development Authority
Source: New York State Research and Development Authority
New York's projected offshore wind jobs growth from 2019 to 2040, depending on future investments and policies enacted.
18,000 to 23,000 jobs
The projected number of homes powered by three provisionally awarded 2023 offshore wind projects.
Source: New York State Research and Development Authority
2 million
Getty Images