Climate

How one state’s aggressive climate policy could boost its economy

Comment

Rhode Island offshore wind farm
Image Credits: Scott Eisen / Getty Images

Rhode Island leaped ahead in the race to 100% renewable power last week as Governor Dan McKee signed a bill that would mandate the state reach the target by 2033, the most aggressive state target so far. Only Oregon comes close, and it’s shooting for 2040.

In some respects, Rhode Island has it easy. With a population of a little over 1 million people, it’s smaller than many metro areas, so switching to renewables isn’t the enormous undertaking it would be in California or Texas.

But on the other hand, renewables tend to need a lot of space, and the state’s 1 million people are tightly packed — Rhode Island is the second most densely populated state in the country.

While Rhode Island may not have space, it does have plenty of open water blessed with strong and consistent winds, which makes it an ideal place for offshore wind. Which is why the state’s swift move to renewable power is as much about addressing climate change as it is about securing the state’s economic future.

Offshore wind hasn’t made many waves in the U.S. yet, but it’s about to. The U.S. is behind the EU in deploying offshore wind, but it’s catching the industry at a good moment. Globally, offshore wind is expected to grow from $33.5 billion worldwide last year to $90 billion by 2030, according to Polaris Market Research.

The Biden administration has made offshore wind a central theme of its climate plan, with a goal of installing 30 GW of offshore wind by 2030. President Joe Biden and Interior Secretary Deb Haaland met last month with governors from 11 states on the East Coast to announce a partnership to deploy offshore wind from Maine to North Carolina.

Already, Biden’s goal doesn’t appear to be much of a stretch based on a report from the Department of Energy’s National Renewable Energy Laboratory, which cites two industry forecasts that suggest the U.S. will be within striking distance. Already, at the end of 2020, over 23 GW of offshore wind capacity have been completed or leased, and the government is putting up another 12 GW worth of open ocean for lease.

The first U.S. lease was for a stretch of ocean near Block Island, where Deepwater Wind installed five Alstom turbines, each with 73-meter-long blades, to generate 30 MW of power, and that project began operating in 2016. While subsequent projects were slow to roll out — blame the last president, who hated wind turbines — the process has picked up steam under the Biden administration. Along the Eastern Seaboard, from Massachusetts south to New Jersey, nearly 30 GW worth of projects are planned, permitted or approved.

Another thing that’s been holding back offshore wind in the U.S. is an obscure 1920 law known as the Jones Act, which requires vessels transporting people or goods between U.S. ports to be built, owned and operated by U.S. citizens. Because offshore wind turbines require specialized boats to install, the law has created a sort of chicken-and-egg problem.

Block Island Wind got around it by using one set of boats to transport parts to the wind turbine installation vessel (WTIV). Other demonstration projects have loaded the parts into the WTIV at a foreign port, which adds unnecessary time and expense while also forcing production abroad. A Jones Act-compliant WTIV is currently under construction, but the U.S. will need several more of the $500 million vessels, according to IHS Markit.

Rhode Island has a long history of shipbuilding, and much of its industry has been dominated by marine trades, thanks in part to its nearly 400 miles of coastline. McKee and other government officials have been pushing the narrative of a “blue economy,” one that revolves around making the most of the ocean and associated industries.

The state’s government clearly hopes to revive industrial employment through the blue economy initiative and offshore wind. Driving the adoption of offshore wind fits those goals. Ports would benefit from added traffic and shipyards would be well positioned to build WTIVs for the East Coast. Beyond that, IHS Markit forecasts that the world outside of China will need 79 vessels to meet demand for offshore wind projects by 2030.

“As home to the nation’s first offshore wind farm, Rhode Island is a pioneer in the blue economy,” McKee said. “Rhode Island is on a path to reducing climate emissions to net-zero by 2050 and a 100% renewable energy standard by 2033 — harnessing the power of offshore wind is part of our pathway to achieving those targets.”

If McKee and the state play their cards right, offshore wind could do more than just help Rhode Island hit its climate targets. It could reach new economic heights, too.

More TechCrunch

Welcome back to TechCrunch’s Week in Review. This week had two major events from OpenAI and Google. OpenAI’s spring update event saw the reveal of its new model, GPT-4o, which…

OpenAI and Google lay out their competing AI visions

Expedia says Rathi Murthy and Sreenivas Rachamadugu, respectively its CTO and senior vice president of core services product & engineering, are no longer employed at the travel booking company. In…

Expedia says two execs dismissed after ‘violation of company policy’

When Jeffrey Wang posted to X asking if anyone wanted to go in on an order of fancy-but-affordable office nap pods, he didn’t expect the post to go viral.

With AI startups booming, nap pods and Silicon Valley hustle culture are back

OpenAI’s Superalignment team, responsible for developing ways to govern and steer “superintelligent” AI systems, was promised 20% of the company’s compute resources, according to a person from that team. But…

OpenAI created a team to control ‘superintelligent’ AI — then let it wither, source says

A new crop of early-stage startups — along with some recent VC investments — illustrates a niche emerging in the autonomous vehicle technology sector. Unlike the companies bringing robotaxis to…

VCs and the military are fueling self-driving startups that don’t need roads

When the founders of Sagetap, Sahil Khanna and Kevin Hughes, started working at early-stage enterprise software startups, they were surprised to find that the companies they worked at were trying…

Deal Dive: Sagetap looks to bring enterprise software sales into the 21st century

Keeping up with an industry as fast-moving as AI is a tall order. So until an AI can do it for you, here’s a handy roundup of recent stories in the world…

This Week in AI: OpenAI moves away from safety

After Apple loosened its App Store guidelines to permit game emulators, the retro game emulator Delta — an app 10 years in the making — hit the top of the…

Adobe comes after indie game emulator Delta for copying its logo

Meta is once again taking on its competitors by developing a feature that borrows concepts from others — in this case, BeReal and Snapchat. The company is developing a feature…

Meta’s latest experiment borrows from BeReal’s and Snapchat’s core ideas

Welcome to Startups Weekly! We’ve been drowning in AI news this week, with Google’s I/O setting the pace. And Elon Musk rages against the machine.

Startups Weekly: It’s the dawning of the age of AI — plus,  Musk is raging against the machine

IndieBio’s Bay Area incubator is about to debut its 15th cohort of biotech startups. We took special note of a few, which were making some major, bordering on ludicrous, claims…

IndieBio’s SF incubator lineup is making some wild biotech promises

YouTube TV has announced that its multiview feature for watching four streams at once is now available on Android phones and tablets. The Android launch comes two months after YouTube…

YouTube TV’s ‘multiview’ feature is now available on Android phones and tablets

Featured Article

Two Santa Cruz students uncover security bug that could let millions do their laundry for free

CSC ServiceWorks provides laundry machines to thousands of residential homes and universities, but the company ignored requests to fix a security bug.

2 days ago
Two Santa Cruz students uncover security bug that could let millions do their laundry for free

TechCrunch Disrupt 2024 is just around the corner, and the buzz is palpable. But what if we told you there’s a chance for you to not just attend, but also…

Harness the TechCrunch Effect: Host a Side Event at Disrupt 2024

Decks are all about telling a compelling story and Goodcarbon does a good job on that front. But there’s important information missing too.

Pitch Deck Teardown: Goodcarbon’s $5.5M seed deck

Slack is making it difficult for its customers if they want the company to stop using its data for model training.

Slack under attack over sneaky AI training policy

A Texas-based company that provides health insurance and benefit plans disclosed a data breach affecting almost 2.5 million people, some of whom had their Social Security number stolen. WebTPA said…

Healthcare company WebTPA discloses breach affecting 2.5 million people

Featured Article

Microsoft dodges UK antitrust scrutiny over its Mistral AI stake

Microsoft won’t be facing antitrust scrutiny in the U.K. over its recent investment into French AI startup Mistral AI.

2 days ago
Microsoft dodges UK antitrust scrutiny over its Mistral AI stake

Ember has partnered with HSBC in the U.K. so that the bank’s business customers can access Ember’s services from their online accounts.

Embedded finance is still trendy as accounting automation startup Ember partners with HSBC UK

Kudos uses AI to figure out consumer spending habits so it can then provide more personalized financial advice, like maximizing rewards and utilizing credit effectively.

Kudos lands $10M for an AI smart wallet that picks the best credit card for purchases

The EU’s warning comes after Microsoft failed to respond to a legally binding request for information that focused on its generative AI tools.

EU warns Microsoft it could be fined billions over missing GenAI risk info

The prospects for troubled banking-as-a-service startup Synapse have gone from bad to worse this week after a United States Trustee filed an emergency motion on Wednesday.  The trustee is asking…

A US Trustee wants troubled fintech Synapse to be liquidated via Chapter 7 bankruptcy, cites ‘gross mismanagement’

U.K.-based Seraphim Space is spinning up its 13th accelerator program, with nine participating companies working on a range of tech from propulsion to in-space manufacturing and space situational awareness. The…

Seraphim’s latest space accelerator welcomes nine companies

OpenAI has reached a deal with Reddit to use the social news site’s data for training AI models. In a blog post on OpenAI’s press relations site, the company said…

OpenAI inks deal to train AI on Reddit data

X users will now be able to discover posts from new Communities that are trending directly from an Explore tab within the section.

X pushes more users to Communities

For Mark Zuckerberg’s 40th birthday, his wife got him a photoshoot. Zuckerberg gives the camera a sly smile as he sits amid a carefully crafted re-creation of his childhood bedroom.…

Mark Zuckerberg’s makeover: Midlife crisis or carefully crafted rebrand?

Strava announced a slew of features, including AI to weed out leaderboard cheats, a new ‘family’ subscription plan, dark mode and more.

Strava taps AI to weed out leaderboard cheats, unveils ‘family’ plan, dark mode and more

We all fall down sometimes. Astronauts are no exception. You need to be in peak physical condition for space travel, but bulky space suits and lower gravity levels can be…

Astronauts fall over. Robotic limbs can help them back up.

Microsoft will launch its custom Cobalt 100 chips to customers as a public preview at its Build conference next week, TechCrunch has learned. In an analyst briefing ahead of Build,…

Microsoft’s custom Cobalt chips will come to Azure next week

What a wild week for transportation news! It was a smorgasbord of news that seemed to touch every sector and theme in transportation.

Tesla keeps cutting jobs and the feds probe Waymo