Issues
Wind & Offshore Wind
American Clean Power (ACP): Offshore Wind Market Report 2024
The American Clean Power Association released the 2024 Offshore Wind Market Report, showing the clean power industry is projected to invest $65 billion in offshore wind projects by 2030, which will support 56,000 jobs in the United States. There are currently 12 gigawatts (GW) of projects with active offtake agreements, including 4 GW under active construction at Vineyard Wind, Revolution Wind, and Coastal Virginia Offshore Wind.
National Renewable Wind Laborator (NREL)
Oceanic Network: 2024 US Offshore Wind Market Report
Key findings from the 2024 U.S. Offshore Wind Market Report include:
The offshore wind capacity approved for construction by the federal government grew 800% –from 0.93 GW to 8.3 GW in 2023.
Developers terminated 51% of power contracts in place prior to 2023 and are seeking financial support for another 24%.
Despite setbacks, 2023 saw several key announcements of new manufacturing facilities, port infrastructure upgrades, and offshore wind vessels.
States spent much of 2023 working to create interstate cooperation frameworks in order to stabilize regional markets, lower project costs, and increase economic benefits.
The Offshore Wind Market Report: 2023 Edition provides detailed information on the U.S. and global offshore wind energy industries to inform policymakers, researchers, and analysts about technology, economic, and market trends.
The report covers global operating offshore wind energy projects through Dec. 31, 2022, and U.S. projects in various stages of development through May 31, 2023.
