U.S. Offshore Wind: Increasing Tailwinds
Offshore wind in the U.S. is a nascent industry, but is set to grow exponentially over the next few years. Offshore wind is a key component of the U.S. climate agenda and the Biden administration has set a goal to deploy 30 GW of offshore wind power by 2030.
As momentum builds, wind power developers will still need to navigate certain challenges, including securing offtake agreements, obtaining permits and approvals, establishing a local supply chain, building out port and transmission infrastructure and securing financing.
The combination of strong regulatory and policy support, and investment from developers, suppliers and financial institutions has created favorable conditions for the growth of the offshore wind market in the U.S. in the coming years.
Watch our short, 4-minute animated overview of the U.S. offshore wind industry.