The Business Network for Offshore Wind released its annual U.S. Offshore Wind Market Report & Insights. The report identifies 2021 as a year of defining consequences for the U.S. offshore wind industry. After years of expansion, primarily due to state government actions, the U.S. offshore wind industry is primed for exponential growth under the Biden Administration. The 2021 report breaks down opportunities for industry growth building off of 2020 developments and outlines the actions needed for the U.S. to capitalize on this growing global industry.
“The U.S. offshore wind market is on the cusp of what could be the next great American industry,” said Liz Burdock, CEO of the Business Network for Offshore Wind, the only non-profit focused on growing the offshore wind industry and its supply chain. “The question is, will federal action be taken quickly to spur private capital investment needed to create local port infrastructure, conduct research, ship building, and private project development? In the process, we must carve out space for the next generation of the U.S. workforce that will help shape how America uses clean energy. The global offshore wind industry is surging ahead, and the U.S. is behind.”
Credentialed news media may obtain a copy of the proprietary 2021 U.S. Offshore Wind Market Report & Insights report to quote from (but not repost). Insights include: a compilation of offshore wind-related public and private investments, the number of gigawatts of offshore wind capacity with offtake pathways, and a breakdown of the more than 400 supply chain contracts awarded to-date. The report also examines how the U.S. fares against established European offshore wind markets and emerging markets in both Europe and Asia, and forecasts key 2021 developments (access the free Executive Summary online)
“To-date, trailblazing states and private sector investment into the U.S. offshore wind industry has totaled more than $3.4 billion. The Biden Administration has made it clear that offshore wind is an important part of America’s clean energy portfolio,” added Burdock. “The offshore wind industry better buckle-up, 2021 is only the start of a thrilling ride.”
The Business Network publishes its report annually for its members on the state of the U.S. market. It includes state-by-state capacity procurements, increases in government targets, project timelines, and the latest supplier contracts and industry developments. The Business Network also hosts the International Partnering Forum (IPF), the largest offshore wind event in the Western Hemisphere. This year, IPF will be held in two parts: in person and virtual. IPF Together will take place in Richmond, Virginia August 24-26 and IPF Virtual will be held online April 22, May 13, and June 17.