The Business Network for Offshore Wind releases its U.S. Offshore Wind Quarterly Market Report in April, July, October, and January. Each builds off our U.S. Offshore Wind Annual Market Report and provides key analysis of both federal and state government activities impacting the U.S. offshore wind industry. Quarterly Reports ensure companies are informed on offshore wind industry developments affecting their business.
The last three months of 2022 (Q4) are notable for the first-ever federal offshore wind auction along the U.S. west coast and key port investments, yet the combination of supply chain bottlenecks, rising commodity prices, and the lack of coordinated transmission planning threatens to stall progress in 2023.
The report details important developments that affected the U.S. offshore wind industry in the fourth quarter of 2022, including:
- The California lease auction marked the U.S.’ entry in the floating offshore wind market and an important opportunity to pioneer cutting-edge technology here at home;
- Domestic supply chain development was buttressed by significant growth in the American steel sector and major investments at U.S. ports in four key states — California, Connecticut, Massachusetts and New York;
- The same inflationary conditions disrupting the European offshore wind industry finally reached U.S. shores, resulting in a spate of project delays;
- With a capable workforce, critical infrastructure components, and the potential to generate 9 GW of offshore wind that could power nearly 3 million homes, the Gulf region is primed for an offshore wind boom.
For weekly U.S. offshore wind updates, subscribe to our Offshore Wind Insider newsletter.