The American Clean Power Association (ACP) has just released its Offshore Wind Market Report, revealing a pipeline of projects across 32 leases in excess of 51GW. This signals a significant step forward for the offshore wind sector in the US, which has lagged behind China and the UK in terms of installed offshore wind capacity. The increasing number of projects in development underscores the crucial role that states are playing in driving US offshore wind procurement.
“American offshore wind power is vital to accelerating the deployment of clean energy and the industry is stepping up to the plate to invest,” said John Hensley, ACP's VP of Research & Analytics. “These projects have the potential to create tens of thousands of jobs, reduce our nation's dependence on foreign energy, provide coastal cities with reliable clean power, and help the U.S. meet its emissions reduction goals.”
The report highlights the economic impact of offshore wind on domestic shipbuilding, with over 30 new vessels currently on order or under construction to support the industry. The domestic supply chain for offshore wind is also set for significant growth, with 14 facilities announced or under construction. Investment announcements for major offshore wind components exceed $1.7bn, and with three state solicitations pending, more supply chain investments are anticipated to further bolster the sector's expansion.
Hensley stressed that while the US offshore wind industry is making tremendous strides, it's crucial to address challenges to ensure the long-term economic viability of these projects. He called for a strong, collaborative approach between industry stakeholders and government bodies to help tackle obstacles, such as clarifying permitting processes, and to realize the full potential of offshore wind as a key component of our clean energy future.
The report also notes that East coast states, like New York and New Jersey, have set procurement targets totaling over 51,000MW. In total, 10 states have combined offshore wind targets of over 81,000MW. This illustrates the strong federal and state government commitment to clean energy expansion and the industry's response to those goals.
See also: UK's Crown Estate Signs Lease Agreements for 8GW of Offshore Wind Energy Production by 2030
The US offshore wind market is poised to play a critical role in creating an energy system powered by clean energy. With the increasing number of projects in development, the sector has the potential to drive significant progress and change the course of energy production in the country. As Hensley notes, “These projects have the potential to create tens of thousands of jobs, reduce our nation's dependence on foreign energy, provide coastal cities with reliable clean power, and help the U.S. meet its emissions reduction goals.”
