Commodities and Futures News

California sets big targets for offshore wind

2022.08.11 02:34

California sets big targets for offshore wind
FILE PHOTO: The sun sets over the Pacific Ocean on the summer solstice in Santa Monica, California, U.S., June 21, 2022. REUTERS/Lucy Nicholson/File Photo

(Reuters) – California on Wednesday set ambitious new targets for offshore wind development, saying turbines along its storied coastline would power some 25 million homes by 2050.

In a unanimous vote, the five-member California Energy Commission (CEC) adopted a goal of 3,000 to 5,000 megawatts (MW) of offshore wind by 2030 and 25,000 MW by 2045, the agency said in a statement.

California has among the most aggressive climate change goals in the country, but its foray into offshore wind has lagged that of East Coast states like New York, New Jersey and Massachusetts, where the industry is more mature.

Projects off the California coast would require using floating turbines, an emerging technology, because of the depth of the outer continental shelf in the Pacific Ocean.

In a statement, the CEC said offshore wind would help the state meet its goal of decarbonizing the electricity sector by 2045 because it can produce power after the sun goes down.

“This remarkable resource will generate clean electricity around the clock and help us transition away from fossil fuel-based energy as quickly as possible while ensuring grid reliability,” CEC Chair David Hochschild said in a statement.

The CEC had been directed by a state law passed last year to quantify the maximum amount of offshore wind that would be achievable by 2030 and 2045.

The Business Network for Offshore Wind, an industry group, said the goal is “the largest and furthest reaching offshore wind goal of any state.”

The Biden administration has a nationwide goal of generating 30 GW of power from offshore wind by 2030. To help meet that goal, earlier this year the Interior Department proposed auctioning five areas off the coast of California near Morro Bay off the central coast and in the north near Humboldt County.

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 70,886.99 4.26%
ethereum
Ethereum (ETH) $ 2,467.28 2.68%
tether
Tether (USDT) $ 0.999191 0.01%
bnb
BNB (BNB) $ 572.35 3.41%
solana
Solana (SOL) $ 170.63 7.51%
usd-coin
USDC (USDC) $ 1.00 0.25%
xrp
XRP (XRP) $ 0.519124 3.08%
dogecoin
Dogecoin (DOGE) $ 0.178727 9.93%
staked-ether
Lido Staked Ether (STETH) $ 2,461.06 2.32%
tron
TRON (TRX) $ 0.161303 0.98%
cardano
Cardano (ADA) $ 0.338294 3.26%
the-open-network
Toncoin (TON) $ 4.73 0.56%
shiba-inu
Shiba Inu (SHIB) $ 0.000018 7.51%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,903.93 2.08%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 70,592.91 4.16%
avalanche-2
Avalanche (AVAX) $ 24.51 7.51%
weth
WETH (WETH) $ 2,464.20 2.50%
bitcoin-cash
Bitcoin Cash (BCH) $ 348.38 5.56%
chainlink
Chainlink (LINK) $ 10.99 6.87%
sui
Sui (SUI) $ 2.08 12.14%
polkadot
Polkadot (DOT) $ 3.92 4.31%
leo-token
LEO Token (LEO) $ 6.03 0.41%
usds
USDS (USDS) $ 0.992204 0.78%
litecoin
Litecoin (LTC) $ 66.55 1.09%
near
NEAR Protocol (NEAR) $ 3.90 6.87%
aptos
Aptos (APT) $ 8.67 6.93%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,591.79 2.51%
uniswap
Uniswap (UNI) $ 7.41 8.49%
pepe
Pepe (PEPE) $ 0.000009 11.15%
internet-computer
Internet Computer (ICP) $ 7.50 6.44%
bittensor
Bittensor (TAO) $ 475.10 12.57%
dai
Dai (DAI) $ 1.01 0.58%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.27 12.48%
monero
Monero (XMR) $ 158.22 0.83%
kaspa
Kaspa (KAS) $ 0.113309 8.35%
stellar
Stellar (XLM) $ 0.094348 3.60%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.25%
whitebit
WhiteBIT Coin (WBT) $ 19.08 1.09%
ethereum-classic
Ethereum Classic (ETC) $ 18.47 4.92%
first-digital-usd
First Digital USD (FDUSD) $ 1.02 1.55%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.30763 4.74%
blockstack
Stacks (STX) $ 1.56 6.37%
okb
OKB (OKB) $ 38.18 2.42%
dogwifcoin
dogwifhat (WIF) $ 2.19 12.11%
aave
Aave (AAVE) $ 139.31 8.12%
filecoin
Filecoin (FIL) $ 3.45 4.78%
arbitrum
Arbitrum (ARB) $ 0.499137 5.02%
crypto-com-chain
Cronos (CRO) $ 0.072721 2.72%
mantle
Mantle (MNT) $ 0.569984 3.25%
immutable-x
Immutable (IMX) $ 1.10 3.48%