McLean, VA (April 5, 2019) — The Copper Development Association (CDA) applauds the U.S. Department of Energy’s (DOE’s) recent announcement to fund $28 million investment in research projects to accelerate wind energy technology and development in the U.S. These investments focus on advancements in offshore wind, distributed wind and tall towers.
As CDA’s recent research and analysis of the wind sector shows, the U.S. is in the early stage of a major acceleration in wind plant construction; with an expected industry peak by 2020. These wind farms generate clean, efficient power to meet our rising energy demands. While innovations, diminishing costs and federal tax credits have helped grow the wind energy market, continued investment is needed to sustain industry momentum.
According to DOE, clean energy investments yield an ROI of $33 for every dollar. However, with a recently proposed $2.4 billion in budget cuts to DOE funding for fiscal year 2020, it is more critical than ever that the nation prioritizes federal investments in clean energy. Investments like this will allow the U.S. to remain a leading competitor in the global sustainable energy market and for the continued reduction of clean energy costs and increased accessibility.