Biden Administration's Proposed Wind Leases Could Generate $4.5 Billion in Federal Revenue -Study

Biden Administration’s Proposed Wind Leases Could Generate $4.5 Billion in Federal Revenue -Study

New overseas wind leases in the United States could generate approximately $4.5 billion in federal income over the coming years, according to a new economic impact report from American Clean Power.
The company, which represents company in the tidy power sector, looked at the Bureau of Ocean Energy Managements proposition to hold 7 overseas wind leases in federal waters by 2025. These consist of locations in the New York Bight, Northern & & Central California, Carolina Long Bay, Oregon, the Gulf of Mexico, the Gulf of Maine, and the Central Atlantic. In the first three lease locations– New York Bight, California, and Carolina Long Bay– BOEM has currently progressed to the Proposed Sale Notice (PSN) phase of the leasing procedure within previously determined Wind Energy Areas (WEAs).
The American Clean Power study forecasts that BOEM might expect to accrue revenues from both the sale of the location leases and the long-term leas and running charges paid by projects established in those areas.According to the study, BOEM might lease between 6,600 and 11,400 square kilometers of location across the seven areas, creating in between $1.6 and $2.7 billion in lease sale earnings over the next four years and an extra $1.1 to $1.8 billion in rents and operating charges for a total of $2.7 to $4.5 billion in new profits over the coming decades. The leases are approximated to support 23 GW and 40 GW of new offshore wind projects, representing over $120 billion of clean energy financial investment.
Construction of the jobs is also anticipated to support between 73,000 and 128,000 jobs, while an additional 28,000 to 48,000 long-term jobs perm in operations and maintenance functions, in the supply chain, and in surrounding neighborhoods over the life of the tasks.
Below is an infographic with more of the ACPs findings:
This content was initially released here.

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