Page 12: of Offshore Engineer Magazine (Sep/Oct 2021)

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MARKET REPORT U.S. OFFSHORE WIND © Artlana/AdobeStock

Emerging Opportunities and Challenges of the US

Ofshore Wind Market

By Philip Lewis IMA/WER

Much has changed in the US wind market in 2021. offtake commitments from East Coast states, 16.6GW of new

Despite being the second largest market for onshore wind, federal leasing activity in the northeast, South Atlantic and accounting for over 16% of the global market, the United California is underway, turbine component, foundation, and

States is today a minor player in offshore wind in comparison cable factories are being built in the US, and offshore wind to the European and Asian offshore wind markets. The US port development is accelerating.

market accounted for less than 1% of the global offshore ca- The project development pipeline now stands at close to pacity fgure at the end of 2020. 47GW.

Global offshore wind capacity reached 32GW of installed Ports, fabricators, component manufacturers, vessel operators, capacity by the end of 2020 – produced from over 7,300 engineering frms and lenders will beneft from the $142bn CA- predominantly bottom-fxed wind turbines. Two operational PEX, $4.8bn annual OPEX, and $21bn DECEX opportunity. projects of seven offshore wind turbines with a nameplate ca- These are the fndings shared in a recent report on the US pacity of 42MW has been the contribution of US wind to the offshore wind by World Energy Reports (WER).

global offshore wind total. The 100+ page report examines the business conditions

After several false starts, the US offshore wind market devel- likely to drive offshore wind project development in the US opment continues to pick up speed in 2021. A major federal within this decade, forecasts the number, CAPEX, OPEX and

OCS project has reached FID, nine federal OCS projects are timing of projects, and provides a roadmap to accessing these under fnal review, 14.3GW of project capacity has secured market opportunities. 12 OFFSHORE ENGINEER OEDIGITAL.COM