US onshore wind came to a screeching halt in 2022
The 2022 slump is spurred by US authorities clamping down on tax incentives for clean wind installations.
BY MARKETWIRE, TRANSLATED BY SIMON ØST VEJBÆK
Least year, Washington passed the Inflation Reduction Act to send billions of dollars flowing to the green transition, and it would seem that the money is needed.
At any rate, the installed onshore wind capacity dipped markedly in 2022. At a combined 6.7GW installed capacity, the country plunged by 596% when compared to 2021, shows data from S&P Global, according to Bloomberg News.
The decline in 2022 was spurred by US authorities removing tax incentives for clean wind installations.
US developers have a 77.2GW pipeline over the next five years, meaning they will need to install 15.4GW annually. Twice the level of last year.
Inflation Reduction Act includes USD 430bn in new expenses for renewable energy, electrical cars and tax advantages.
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