The 2016 Offshore Wind Technologies Market Report is intended to provide stakeholders with quantitative information about the offshore wind market, technology, and cost trends in the United States and worldwide.
Key findings of the report include:
Deepwater Wind completed the commissioning of the Block Island Wind Farm off the coast of Rhode Island, marking a milestone as the first commercial offshore wind project in the U.S.
A trend of offshore wind price declines has been marked by European auction strike prices
There is increased confidence in the U.S. offshore wind market caused by decreasing global costs and stronger state policy commitments
Several states including Massachusetts, New York, and Maryland have enacted new policy or bolstered their existing policy to support the development of over 4,000 MW of offshore wind
The U.S. offshore wind project development pipeline includes over 20 projects totaling 24,135 MW of potential installed capacity
Technology trends include siting projects further from shore, in deeper waters.