Proposals in the U.S. Congress to tie green tax credits with local content materials risk holding back the American offshore wind sector even before it has started to flourish, a top executive at a major project offshore Massachusetts told the Financial Times . Democrats in Congress have proposed a number of tax credits and incentives for clean energy and electric vehicles (EVs) in the $3.5 trillion spending bill , but the proposals include tying some of the tax credits with the condition that the steel and other materials are produced in the United States. However, most of the wind power industry, including offshore wind, relies very much on turbines made in Europe. Bill White, head of offshore wind at Avangrid, part of European renewables giant Iberdrola, told FT that the local content condition would hold back the development of offshore wind, on the one hand, and raise costs, on […]