U.S. offshore wind momentum builds a foundation for the future

This summary of a Flash Note comes from Make Consulting.

 

MAKE Consulting anticipates that 2.3 GW of offshore wind will develop from 2017 to 2026.

This Flash Note analyses the recent momentum gains in the US offshore wind industry and discusses opportunities and challenges that developers face over the next decade as the US offshore wind industry grows.

Key points:

  • The Maryland Public Service Commission awards support for 368 MW of offshore wind power to Deepwater Wind and US Wind
  • Opportunity exists for LCOE reductions as best practices are developed locally or are adopted from European methods
  • Pressure to capitalize on soon-to-expire tax credits intensifies as phasedowns of PTC and ITC take effect
  • MAKE anticipates that 2.3 GW of offshore wind will develop from now to 2026

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