The 2018 Offshore Wind Technologies Market Report is intended to provide offshore wind policymakers, regulators, developers, researchers, engineers, financiers, supply chain participants, and other stakeholders with up-to-date quantitative information about the offshore wind market, technology, and cost trends in the United States and worldwide.
This report is especially intended to provide detailed information on the domestic offshore wind industry to provide a U.S. context and help navigate technical and market barriers and opportunities.
Download the full 2018 Offshore Wind Technologies Market Report.
Key Findings:
- The U.S. offshore wind energy project development and operational pipeline grew to an estimated potential generating capacity of 25,824 megawatts (MW), with 21,225 MW under exclusive site control.
- Four U.S. regions experienced significant development and regulatory activities.
- State-level policy commitments accelerated, driving increased market interest.
- Increased U.S. market interest spurred strong competition at offshore wind lease auctions.
- Several U.S. projects advanced in the development process.
- Industry forecasts suggest U.S. offshore wind capacity could grow to 11–16 gigawatts by 2030.
- Offtake prices for the first commercial-scale offshore wind project in Massachusetts were lower than expected.
- Offshore wind interest accelerated in California.
- New national R&D consortium aims to spur innovation.
- Global offshore wind annual generating capacity installed in 2018 set a new record of 5,652 MW.
- Industry is seeking cost reductions through larger turbines with rated capacities of 10 MW and beyond.
- Floating offshore wind pilot projects are advancing.