Date of publication: 06/08/21.
Offshore wind projects are now under development along much of America’s East Coast, ranging from Maine to the Carolinas. The U.S. offshore wind industry has already seen investments exceeding $3.5 billion and the Network has tracked more than 500 supply chain contracts.
The U.S. offshore wind market is much larger than it currently appears. Collectively, East Coast states now aim to procure 32 GW of offshore wind capacity by 2035, while the Biden Administration has called for the deployment of 30 GW by 2030. As alluded to in the 2016 National Offshore Wind Strategy, in order to maximize the potential of the U.S. offshore wind market, state and federal policymakers – in collaboration with industry and other stakeholders – must accelerate their planning for large scale deployment of floating offshore wind installations.
State and federal policymakers continue the Biden Administration’s tremendous early progress on offshore wind by thinking now about the future implications and necessities of deploying floating offshore wind turbines. The U.S. offshore wind industry’s ongoing momentum can be maximized by establishing mechanisms to achieve the integrated, intergovernmental coordination, planning, and strategic decision-making that will enable: (1) the U.S. to have a floating offshore wind industry that is competitive on the global stage, and (2) for states to meet their full decarbonization commitments, which likely cannot be met without deploying substantial floating offshore wind generation capacity.
Download this Policy Briefing focused on the U.S. Opportunity in Floating Offshore Wind