Source: Canary Media
Despite billions in federal subsidies and tax credits, the U.S. has failed to build a domestic offshore wind supply chain, with companies like Ingeteam abandoning planned factories and manufacturers defaulting to imported components. The gap between policy incentives and actual production capacity reveals a flaw in industrial policy: subsidies alone cannot overcome geographic disadvantages, global competition, and the chicken-and-egg problem of needing demand before building factories. Offshore wind economics will likely favor European and Asian supply chains for years, undercutting the energy independence ambitions embedded in the IRA.