A new report predicts the U.S. offshore wind buildout will fall short of President Biden’s 30-GW-by-2030 goal despite investment of a projected $65 billion over the next six years. 

The American Clean Power Association’s 2024 Offshore Wind Market Report projects the 30-GW milestone will be reached in 2033 and that only 14 GW will be operational by 2030. 

The industry ran into serious problems with costs, component availability and infrastructure just as it was gaining some momentum in the United States with the help of federal and state policymakers. 

Contracts for numerous projects were canceled, injecting uncertainty and delays into their construction timelines. 

But ACP sees a bright future for offshore wind in the United States: 

• • A total of 56.3 GW of capacity is in some stage of development in 37 leases, and the U.S. Bureau of Ocean Energy Management plans to hold four auctions this year for 1.9 million acres of federal waters that hold a potential capacity of more than 20 GW. 

• • BOEM has greenlighted 12 projects in nine lease areas and is reviewing seven other projects. 

• • Offtake agreements are in place for 12 GW of electricity generated offshore, and active solicitations underway in the Northeast could yield 8.8 GW to 12.2 GW of additional contracts in the second half of this year. 

• • South Fork Wind, the first utility-scale offshore wind farm, was commissioned this year and three larger projects with a combined capacity of 4 GW — Coastal Virginia Offshore Wind, Revolution Wind and Vineyard Wind — are under construction. 

• • Infrastructure investment announcements now exceed $9 billion, with $3 billion in 2023 alone; more than 40 new support watercraft are on order or under construction, including two types of installation vessels. 

• • The sector is projected to support 56,000 U.S. jobs by 2030. 

In a news release July 9, ACP Chief Policy Officer Frank Macchiarola said: 

“After the successful startup of the 132 MW South Fork wind farm earlier this year, and with 136 MW operational at Vineyard Wind, offshore wind is gaining momentum with three projects under construction and 37 more in development. Harnessing America’s offshore wind resources will boost economic activity, create jobs, reduce pollution providing environmental and public health benefits, and strengthen America’s energy security by enhancing grid reliability and energy independence.” 

ACP in its announcement did not mention the possibility of a second presidency for Donald Trump, an outspoken wind power opponent. 

November election notwithstanding, there are some bright points ahead in 2024: 

• • New Jersey’s fourth offshore wind solicitation is active. 

• • New York plans a dual solicitation this year — one for offshore wind farms, one for supply chain investments to support offshore construction and operations. 

• • Connecticut, Massachusetts and Rhode Island expect to announce the results next month of a joint solicitation for up to 6 GW of new projects. 

• • BOEM plans lease auctions in the Central Atlantic region in August, the Gulf of Mexico in September, and Oregon and the Gulf of Maine in October. 

• • Construction is expected to begin on Sunrise Wind.