Offshore wind industry is being used by a number of countries to harness the energy of strong, consistent winds that are found over the oceans. In the United States, abundant offshore wind resources have the potential to supply immense quantities of renewable energy to major U.S. coastal cities. The US has an attractive potential of ~10 GW by 2020, driven from sites in the Atlantic Ocean, and ~54 GW by 2030, at which time the Pacific Coast and the Great Lakes are expected to be developed.
At present, no new project is commissioned in the US and of the current ~6.9 GW in the US pipeline, only ~1.4 GW is expected to be commissioned by 2020 due to long consent periods and an undeveloped supply chain, indicating a gap of 8.6 GW to DoE ambition in 2020. Immature supply chain, approval delays and low cost competitiveness are key factors for slow development, however, expected return of PTC is an upside.
This report offers insights on US offshore wind industry analysing its current position, upfront challenges and future expectations. Considering the great potential, global contractors and financial investors are expected to enter the US offshore wind industry as they can utilize experiences gained in Europe. Incumbents as well as new entrants are developing projects in partnership with other members of the supply chain in order to gain experience and reduce risks. This report also presents a thorough evaluation of the key players in the industry and developments for wind energy project realisation in the US.
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