Biden plans to dramatically increase offshore wind energy development

The White House rolled out initiatives Monday aimed at jump-starting the development of large offshore wind farms that together would power over 10 million homes.

Why it matters: The target of 30 gigawatts of generating capacity by 2030 would go well beyond the big projects already on the drawing boards.

Research firm BloombergNEF currently forecasts that the U.S. will have 19.64 gigawatts of offshore wind power capacity in 2030.
U.S. offshore wind is a massive resource. But it remains in its very early stages in the U.S. compared to...