July 10, 2024 — Offshore wind market analysts forecast 14 gigawatts of capacity in U.S. waters by 2030 – halfway to the Biden administration’s goal 30 GW, but with $65 billion of investments on track to achieve it in 2033.
The American Clean Power Association (ACP) on July 9 released its 2024 Offshore Wind Market Report, predicting the renewable power industry iwill support 56,000 jobs in the United States. The report counts 12 GW of capacity to come from projects with active offtake agreements. Those include 4 GW now under construction: Vineyard Wind and Revolution Wind off southern New England, and the Coastal Virginia Offshore Wind project.
“Across 37 leases in the U.S., there are now 56 GW (56,363 MW) of capacity under development, enough electricity to power the equivalent of 22 million homes,” the report states. “Market analysts forecast that there will be 14 GW of offshore wind deployed by 2030, 30 GW by 2033, and 40 GW online by 2035. These outlooks build on the 7.6 GW of offshore wind projects seeking to be operational by the end of 2027.”