What’s happening to the offshore wind industry and can it recover?

Altogether, projects that had been canceled by the end of 2023 were expected to total more than 12 gigawatts of power, representing more than half the capacity in the project pipeline.

America’s first large-scale offshore wind farms began sending power to the Northeast in early 2024, but a wave of wind farm project cancellations and rising costs have left many people with doubts about the industry’s future in the U.S.