- What are key global trends in offshore wind development?
- How does offshore wind development compare to onshore wind development?
- What are market drivers and barriers in North American offshore wind development?
- How does North America compare to other regions in the wind power market?
- What are notable examples of offshore wind projects in the US?
- What are recommendations for further developing
offshore wind in North America?
Analyst Insight: Offshore Wind Development in North America
Global Wind Energy Insights
Offshore wind development in North America has historically trailed Europe and Asia Pacific. However, recent developments in the US offshore wind market point to significant increases in offshore wind capacity over the coming decade. The US has only completed two offshore wind projects, with a total capacity of 42 MW. The Biden administration has set a target of installing 30 GW of offshore capacity by 2030, and eight states have individually set offshore wind targets that collectively aim for 39 GW of offshore capacity by 2040. To achieve these targets, the US offshore wind market needs to scale up rapidly. Increased investment in domestic manufacturing and Jones Act-compliant wind turbine installation vessels will likely be a key component that supports offshore wind growth.
This Guidehouse Insights report seeks to highlight current and future offshore wind development in North America. Guidehouse Insights’ Global Wind Database focuses on tracking and compiling key market data for 5 global regions and 36 countries, including historical, annual, and cumulative installed megawatts and 10-year forecasts. Segmentation includes onshore, offshore, and distributed wind and wind plant CAPEX forecasts.
- Wind turbine manufacturers
- Electricity generation utilities
- Independent power producers
- Wind turbine component suppliers
- Wind power plant operations and maintenance companies
- Materials manufacturers for wind energy components
- Government agencies, policymakers, and researchers
- Investor community
Market Inflection Trends
Market Drivers and Barriers
US Offshore Wind Pipeline
Acronyms, Abbreviations and Additional Resources
- Global Offshore Wind Energy Market Growth Potential by Region, World Markets: 2022-2031
- Locations of U.S. offshore wind pipeline activity and Call Areas as of May 31, 2021
- Cumulative Installed Wind Capacity by Segment North America: 2022-2031
- Market Drivers and Barriers