Offshore Wind Market Report: 2023 Edition

1 National Renewable Energy Laboratory
2 U.S. Department of Energy Office of Energy Efficiency and Renewable Energy Wind Energy Technologies Office

Future Trends Summary
 • Fallout from recent cost increases may hinder many U.S. offshore wind energy projects in the near term with significant relief possible from the Inflation Reduction Act.
 • The first two commercial-scale offshore wind plants in the United States, Vineyard Wind 1 (800 MW) and South Fork Wind (132 MW), are scheduled to deliver power to the grid in 2023, and the 1,100-MW Ocean Wind 1 project will start construction. 
 • Projects struggling to remain solvent may cancel some offtake agreements, which could delay industry deployment, particularly for projects intending to commence commercial operations between 2025 and 2028.
 • Future projects may benefit from added buffers such as inflation indexing and federal support from the Inflation Reduction Act to soften the adverse macroeconomic impacts.
 • Long-term growth in the U.S. market may parallel anticipated global market growth. A projected sixfold increase in capacity is expected over the next decade according to BNEF (2022a) and 4C Offshore (2023) global forecasts.
 • The U.S. market fraction is forecast to be about 11% to 19% of the global total by 2032. 
 • State-level procurement targets strengthened by federal policy are likely to remain the predominant U.S. market driver, but ambitious timelines may be challenged.
 • Investments of $8.1 billion made in 2022 suggest a robust emerging offshore wind energy industry in the North and mid-Atlantic regions (Business Network for Offshore Wind 2023; American Clean Power 2023a). 
 • Commercial offshore wind leasing is expected to ramp up in U.S. regions such as the Pacific Coast, Gulf of Mexico, Central Atlantic, and Gulf of Maine.
 • Over 112 GW of offshore wind planning goals and procurement mandates from 13 states by 2050 will continue to drive offshore wind energy development.
 • Emerging energy technologies such as floating offshore wind may stimulate long-term development opportunities.

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Comment by Willem Post on January 9, 2024 at 8:17am

These reports, as usual, present a rosy picture of offshore wind, which has turned out to be an expensive disaster, as are other Biden idiocies, such as heat pumps, EVs, electric cook stoves, and large-scale battery systems 

 

Maine as Third World Country:

CMP Transmission Rate Skyrockets 19.6% Due to Wind Power

 

Click here to read how the Maine ratepayer has been sold down the river by the Angus King cabal.

Maine Center For Public Interest Reporting – Three Part Series: A CRITICAL LOOK AT MAINE’S WIND ACT

******** IF LINKS BELOW DON'T WORK, GOOGLE THEM*********

(excerpts) From Part 1 – On Maine’s Wind Law “Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine if the law’s goals were met." . – Maine Center for Public Interest Reporting, August 2010 https://www.pinetreewatchdog.org/wind-power-bandwagon-hits-bumps-in-the-road-3/From Part 2 – On Wind and Oil Yet using wind energy doesn’t lower dependence on imported foreign oil. That’s because the majority of imported oil in Maine is used for heating and transportation. And switching our dependence from foreign oil to Maine-produced electricity isn’t likely to happen very soon, says Bartlett. “Right now, people can’t switch to electric cars and heating – if they did, we’d be in trouble.” So was one of the fundamental premises of the task force false, or at least misleading?" https://www.pinetreewatchdog.org/wind-swept-task-force-set-the-rules/From Part 3 – On Wind-Required New Transmission Lines Finally, the building of enormous, high-voltage transmission lines that the regional electricity system operator says are required to move substantial amounts of wind power to markets south of Maine was never even discussed by the task force – an omission that Mills said will come to haunt the state.“If you try to put 2,500 or 3,000 megawatts in northern or eastern Maine – oh, my god, try to build the transmission!” said Mills. “It’s not just the towers, it’s the lines – that’s when I begin to think that the goal is a little farfetched.” https://www.pinetreewatchdog.org/flaws-in-bill-like-skating-with-dull-skates/

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Hannah Pingree on the Maine expedited wind law

Hannah Pingree - Director of Maine's Office of Innovation and the Future

"Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine."

https://pinetreewatch.org/wind-power-bandwagon-hits-bumps-in-the-road-3/

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