US offshore wind market outlook 2021-2030: Strong federal support will allow US offshore industry to reach Biden’s 30 GW target
The Biden administration has set a lofty goal of 30 GW of offshore wind installed by 2030, and while this is an ambitious goal, it is realistic, and the industry will rise up to meet this goal. Currently, the US offshore wind industry is expected to deliver 32.5 GW through 2030. More than 14 GW of projects are already contracted or soon to be approved, up from 9 GW a year ago. Most states are on track to reach state mandates, likely earlier than targeted, as long as solicitations continue. For 32 GW to be installed, states without mandates will need to solidify and expand current targets later in the decade. This report takes an in-depth look at the state and federal policies driving demand for offshore wind in the United States, including both a country-wide overview and in-depth state profiles that cover how build will vary by state and across three different scenarios over the coming decade.