November 20, 2023 — The United States is likely to miss its offshore wind installation targets by nearly 50%, experts estimate, as a string of delays and cancellations in large-scale offshore wind projects continues to grow.
Energy sector analyst Bloomberg NEF’s outlook for U.S. offshore wind capacity by 2030 fell by 29% between its June and November reports, now predicting 16.4 GW of cumulative offshore wind capacity by the end of the decade.
In September, the Biden Administration reiterated its goal of achieving 30 GW of offshore wind capacity by 2030.
“President Biden has set an ambitious goal of achieving 30 GW of offshore wind by 2030 – and I am more confident than ever that we will meet it,” Secretary of the Interior Deb Haaland said in a Department of Energy press release.
In recent weeks, the U.S. wind sector has faced a series of headwinds, namely high interest rates, rising costs for wind turbine components and local opposition to large-scale offshore wind projects.