US expected to install 14 GW of offshore wind by 2030, 30 GW by 2033

The US currently has 12 GW of offshore wind projects with active offtake contracts, of which 4 GW are under construction at Vineyard Wind, Revolution Wind and Coastal Virginia Offshore Wind, the American Clean Power Association (ACP) said on Tuesday.

ACP’s 2024 Offshore Wind Market Report shows that 56 GW of capacity is under development in the country across 37 leases. By 2030, 14 GW of offshore wind is expected to be installed, with the figure growing to 30 GW by 2033 and 40 GW by 2035.

The US has a goal of deploying 30 GW of offshore wind energy by 2030.

Ongoing or upcoming solicitations by the states of New Jersey, New York, Massachusetts, Rhode Island and Connecticut could award procurement contracts for a further 8.8-12.2 GW of offshore wind projects in the second half of 2024.

ACP notes that although offshore wind development was impacted by contract cancellations and rebidding in 2023, states have swiftly launched new solicitations and streamlined their processes.

“After the successful start-up of the 132 MW South Fork wind farm earlier this year, and with 136 MW operational at Vineyard Wind, offshore wind is gaining momentum with three projects under construction and thirty-seven more in development,” said ACP chief policy officer Frank Macchiarola.

According to the report, USD 65 billion (EUR 60bn) will be invested in offshore wind projects by 2030, supporting 56,000 jobs.

ACP expects the momentum and investment to continue with the Bureau of Ocean Energy Management (BOEM) set to conduct four lease sales this year, which could lead to development of more than 20 GW of capacity.

(USD 1 = EUR 0.924)

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