BALTIMORE – In response to today’s legislative action rolling back key provisions of the Investment Reduction Act (IRA) designed to bolster domestic manufacturing, develop a competitive, local supply chain, and establish interregional transmission planning for offshore wind energy, Oceantic Network has released the following statement:
“Dismantling clean energy and manufacturing tax credits only worsens our national energy crisis and will directly harm Americans by increasing energy bills, stifling investment, slowing energy development, and killing good-paying jobs across the United States,” said Stephanie Francoeur, senior vice president of marketing and communications. “Offshore wind is making America more secure by delivering reliable and affordable power and revitalizing industries critical to national defense like steel production and shipbuilding. Instead of advancing the administration’s priorities, the proposed reconciliation package stalls project development underwritten by a 40-state supply chain while explicitly targeting critical manufacturing tax credits, threatening billions of dollars of investments in the Midwest, Mid-Atlantic, and American South.
“As demand for energy surges, offshore wind is a “shovel-ready” industry that can bring up to 10 GW of energy onto the grid before the next decade. If adopted, these provisions threaten to delay projects and deny ratepayers affordable and reliable electricity, compounding the economic pain Americans are already feeling from the rising cost of essentials.”
For more information or to arrange an interview with an Oceantic spokesperson, contact Melinda Skea at [email protected].
