Offshore Wind Market Report | 2023
Offshore Wind Drives 30+ Vessel Orders, Boosts Domestic Manufacturing, and Plans to Power Equivalent of over 20 Million Homes
The American Clean Power Association (ACP)’s U.S. Offshore Wind Market Report reveals a rapidly growing pipeline of projects across 32 leases, totaling 51,377 MW of expected capacity. These developments will provide enough electricity to power the equivalent of more than 20 million homes. Although the U.S. currently lags behind China and the U.K. in terms of installed offshore wind capacity, the increasing number of projects in development signals significant progress in a sector poised to play a critical role in creating an energy system powered by clean energy.
Offshore wind project development, construction and operations are expected to support up to 83,000 American jobs by 2030, with industry investment set up to deliver $25 billion per year in economic output.
The Offshore Wind Market Report underscores the crucial role that states are playing in driving U.S. offshore wind procurement. East coast states, like New York and New Jersey, have set procurement targets totaling over 51,000 MW. In total, ten states have combined offshore wind targets of over 81,000 MW.
The new report emphasizes the economic impact of offshore wind on domestic shipbuilding, with more than 30 new vessels currently on order or under construction to support the industry. Key takeaways include upcoming offshore wind projects in the pipeline, locations of announced manufacturing facilities, and more. For more information, read our Press Release, “U.S. Offshore Wind Market Report Expands Rapidly With 51,377 MW Projected Capacity.”
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