Biden Admin Allocates Funds for Wind Energy Development

Biden Admin Allocates Funds for Wind Energy Development

October 20, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--The Biden administration earlier this week announced that it will use $30 million from the Bipartisan Infrastructure Law to fund research and development for wind energy projects, both onshore and offshore.

The Department of Energy (DOE) will allocate $28 million for:

  • Advancing technologies needed to transmit electricity from offshore wind sources over long distances
  • Helping coastal communities benefit from offshore wind developments
  • Improving permitting processes to make distributed wind more accessible to communities
  • Improving technologies to help bats avoid wind turbines
In addition, $2.5 million is being allocated for research on the anchors and mooring systems to attach floating offshore wind structures to the sea floor.

Companies featured: Dominion Energy Incorporated (NYSE:D), Equinor (NYSE:EQNR), BP (NYSE:BP)

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