April 7, 2025 — Energy firms have slowed construction of offshore wind farms in the U.S. for various reasons in recent years, including, most recently, opposition from U.S. President Donald Trump’s administration.
Offshore wind was a key pillar of former President Joe Biden’s promise that fighting climate change will create jobs and invigorate the economy. In 2023 and 2024, however, several offshore wind companies took billions in write-offs, impairments and other cancellation fees after determining they could no longer complete projects profitably due to rocketing construction costs, higher interest rates and supply chain snags.
After Trump suspended new offshore wind leasing on his first day back in the Oval Office in January, several energy analysts said they did not expect any new offshore wind projects other than those already under construction to move forward over the next few years.
There are four offshore wind farms in service and producing power in the U.S., and another four projects under construction that are expected to enter service from 2025-2027. There are also several projects in advanced development.
Recently, some analysts have warned that projects already under construction may not be safe from attacks by the Trump administration.