November 8, 2024 — Representatives of the offshore wind industry in public remarks on Wednesday congratulated President-elect Donald Trump, appealing to the former president — who previously vowed to halt offshore development through executive power — with the economic opportunities the nascent industry can offer to the American economy.
At the same time, stocks for several renewable energy companies dropped, with reports companies worry about future tariffs under Trump that could significantly increase project costs.
The Light previously reported that a second Trump administration could slow progress for the industry, which gained momentum under the Biden administration with project installation and several lease sales on both coasts. This potential slowing down could be felt in the Port of New Bedford, which is slated to support several projects in the coming years (and decades) in both the construction of and long-term operations and maintenance of the wind farms.