Federal and state goals have boosted the offshore wind industry, leading to several projects under various stages of development. Although cost increases have challenged some projects along the East Coast, development activities are gaining momentum along the West Coast.
The U.S. offshore wind industry is experiencing a flurry of activity with commercial-scale wind projects advancing in the Atlantic Ocean and the Pacific now open for development, following a federal auction held in December.
Several U.S. states have unveiled new climate action plans or revised existing strategies to achieve their emissions reduction mandates. California, New York, and Michigan are among states that have recently adopted plans to achieve net-zero emissions or to move towards carbon neutrality by mid-century.
Ambitious federal goals and initiatives to boost offshore wind power generation, coupled with state commitments, are opening new frontiers for the industry. Recent developments reflect the growing emphasis on transmission infrastructure upgrades and regional planning required to make these goals a reality.
The U.S. offshore wind industry is growing stronger, spurred by expansion into new leasing areas to support the national goal of 30 gigawatts (GW) by 2030 and ambitious state-level commitments.
The U.S. offshore wind industry is poised for continued progress as evident from the recent record-setting New York Bight wind auction, the first to be held under the Biden administration.
U.S. offshore wind is gaining traction with new milestones spurred by state commitments of almost 40 gigawatts (GW) by 2040 and a federal goal of 30 GW by 2030. Recent developments include state-level project selections that could add more than 3.2 GW of new capacity, New Jersey’s proposal for a novel offshore wind transmission solution, and New York’s move to advance transmission technologies for offshore wind integration.
The U.S. offshore wind industry is making strides with significant milestones including approval of the first large-scale project in federal waters, federal efforts to advance permitting processes, and actions towards potential development in the Pacific.
The prospects of the U.S. offshore wind industry are brightening as East Coast states and the Biden administration step up efforts to harness the potential of carbon-free electricity. The administration has established a goal to deploy 30 GW of offshore wind in the U.S. by 2030. To facilitate the achievement of the goal publicized on March 29, the administration announced several investment and funding opportunities. These include access to $3 billion in funding for offshore wind projects through the Department of Energy’s Innovative Energy Loan Guarantee Program and $230 million in funding opportunity for port authorities and other applicants for infrastructure-related projects through the Department of Transportation’s Maritime Administration.
