2021 – The Year When Offshore Wind Takes Off in The United States.

An analysis of the drivers and forecast of offshore wind activity in the United States over the next decade.

October 2021

The US offshore wind market development continues to pick up speed. A major OCS project has reached FID, nine OCS projects are under final review, 14.3GW of project capacity has secured offtake commitments, 16.6GW of new OCS leasing activity in the northeast, South Atlantic and California is underway, turbine component, foundation, and cable factories are being built in the US, and offshore wind port development is accelerating.

Our forecast has increased to 45 projects that will install 47GW of capacity in this and the next decade – and will require CAPEX amounting to $142 billion to bring onstream, a recurring annual OPEX of $4.8 billion once delivered, and $21 billion of DECEX at the end of commercial operations.

All is discussed in the October WER report. Also in the data section of the report are details for 45 developments:

• 1 offshore wind project has passed the FID stage and is firming up major contract commitments.
• 3 offshore wind projects where an FID is expected within 18 months.
• 15 projects in the midterm planning stage where an FID is expected between 18 and 36 months.
• 17 projects in the early planning stage where an FID is expected to be taken in 36-60 months.
• 9 other areas that will support close to 17GW of future offshore wind projects and where an FID is expected after 60 months.