The Inflation Reduction Act spending bill, reflecting compromise between Senator Joe Manchin and Majority Leader Chuck Schumer, contains several measures to bolster offshore wind and other renewable energy development in the United States.
On July 27, 2022, only a few hours after the Senate approved a bipartisan semiconductor and technology package, Senator Manchin made a stunning and well-timed reversal of his prior position and confirmed his support for various climate and energy programs. Senate Democrats (led by Senators Manchin and Schumer) quickly made legislative text available and submitted it to the Senate Parliamentarian for review.
Offshore wind developers have poured billions of dollars into securing leases in state and federal waters in recent months, with many more billions to be spent developing wind assets to support ambitious state and federal goals for the energy transition.
On June 6, 2022, the Biden administration announced a temporary exemption of up to two years from the application of any new tariffs on solar cells and modules from four Southeast Asian nations — Cambodia, Malaysia, Thailand, and Vietnam.