Illustration: Lazaro Gamio/Axios

New York State officials yesterday announced that Norway-based Equinor and a joint venture that includes Denmark's Orsted had won the solicitation to build 2 large offshore wind projects totaling around 1.7 gigawatts.

Why it matters: It's the biggest offshore wind agreement in the U.S. to date and, per New York Gov. Andrew Cuomo's office, will provide enough electricity for over 1 million homes.

  • The projects — one from Equinor and another from Orsted-Eversource Energy JV — are slated for completion by 2024, per Greentech Media.

Quick take: It highlights something we wrote about in March — the marriage of aggressive policies in northeastern U.S. and deep-pocketed, experienced Europe-based players is finally jumpstarting offshore wind in the U.S.

Where it stands: Action in several states is leading some analysts to revise their projections for U.S. offshore wind.

  • BloombergNEF recently upgraded their forecast to 15.4 GW of U.S. offshore wind capacity by 2030, up from 11.4 GW in their prior analysis.
  • Max Cohen of IHS Markit says that consultancy will soon be revising its estimates too, from the current projection of 7 GW by 2030.
  • Combine the "flurry" of contracting from New York and New Jersey with the legislative mandates for offshore wind in N.Y., Connecticut and Maryland, and the estimate rises a lot, Cohen says via email.

The bottom line: "These are very positive sign posts for the industry, and though there are still risks and some of these projects/targets could be delayed, we are tentatively thinking more like 11 GW by 2030 is likely," Cohen says.

Go deeper: Prices of renewable energy sources plummeted between 2009 and 2017

Go deeper

Updated 5 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: The swing states where the pandemic is raging. Ex-FDA chief: Pence campaigning after COVID exposure puts others at risk — Mark Meadows: "We are not going to control the pandemic"
  2. Health: 13 states set single-day coronavirus case records last week — U.S. reports over 80,000 new cases for second consecutive day.
  3. Education: The dangerous instability of school re-openings.
  4. World: Australian city to exit one of world's longest lockdowns — In photos: Coronavirus restrictions grow across Europe
  5. Media: Fox News president and several hosts advised to quarantine after possible COVID-19 exposure
  6. Nonprofit: Rockefeller Foundation commits $1 billion for COVID-19 recovery
Erica Pandey, author of @Work
47 mins ago - Economy & Business

The dangerous instability of school re-openings

Illustration: Eniola Odetunde/Axios

Schools across the country have flip-flopped between in-person and remote learning — and that instability is taking a toll on students' ability to learn and their mental health.

The big picture: While companies were able to set long timelines for their return, schools — under immense political and social strain — had to rush to figure out how to reopen. The cobbled-together approach has hurt students, parents and teachers alike.

Dan Primack, author of Pro Rata
57 mins ago - Politics & Policy

Trump doesn't have a second-term economic plan

Illustration: Aïda Amer/Axios

President Trump has not laid out an economic agenda for his second term, despite the election being just eight days away.

Why it matters: This is unprecedented in modern presidential campaigns, and makes it harder for undecided voters to make an informed choice.