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BOEM receives increased investment to support clean energy

By: Chloe Emanuel 12/03/2024 BOEM

General Windfarms

The Biden-Harris administration unveiled the President’s Budget for Fiscal Year 2025, outlining crucial funding allocations to advance the Bureau of Ocean Energy Management's (BOEM) mission and drive action on key climate priorities. Using the best available science and practices in the decision-making process, the Administration seeks to align the management of America’s offshore energy, mineral, and geological resources with the Nation’s climate, conservation, and clean energy goals.

The FY 2025 President's Budget allocates $242 million to BOEM, supporting the Bureau's commitment to overseeing the nation's offshore energy, mineral, and geological resources through proper environmental and economic stewardship. These strategic investments supporting the American people aim to establish a foundation for sustained growth and prosperity for future generations.

"The 2025 Budget empowers BOEM to fulfill our mission and advance the administration's ambitious climate agenda while creating high-quality job opportunities, advancing economic prosperity, and reinforcing energy security,” said BOEM Director Elizabeth Klein. “It ensures our capacity to oversee offshore energy development responsibly, while prioritizing the well-being of the American people."

Renewable Energy

The FY 2025 Budget includes $52 million for BOEM’s Renewable Energy Program, which supports the Biden-Harris administration’s goals of deploying 30 gigawatts (GW) of offshore wind energy capacity by 2030 and 15 GW of floating offshore wind capacity by 2035. As a champion of the Biden-Harris administration’s all-of-government approach, BOEM will continue to partner with the multiple levels of government, Tribal Nations, and governors of U.S. Territories to expand responsible offshore wind energy development.

Environmental Programs

The FY 2025 Budget proposal includes $86.7 million for BOEM’s Environmental Programs. BOEM’s Environmental Programs provide a foundation of support to the Bureau by ensuring that programmatic decision-making is guided by the best available environmental research and data to inform the public, stakeholders, diverse ocean users, and external decision-makers about the potential impacts of OCS energy and mineral activities.

This work enables BOEM to identify risks and mitigation strategies to assist with conservation and protection of environmental and cultural resources. BOEM will also work to promote equity in BOEM’s decision-making processes through ongoing engagement with Tribal Nations and Indigenous communities, underserved communities, and communities with environmental justice concerns to incorporate their feedback in both addressing impacts and delivering benefits.

For more information about offshore wind farm projects across the globe, click here.

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BOEM receives increased investment to support clean energy

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