US Offshore Wind Market and ASCE V-Tech 2020, Sep 14-18

Join us at ASCE V-Tech 2020, September 14-18, 2020, to learn about the US Offshore Wind Market. Bil Stewart is co-moderator and organizer of the COPRI Offshore Wind session.

Bil has been Chairman of the COPRI Marine Renewable Energy Committee for the last 10 years. Bil was Chairman of the Board of COPRI in 2017.

STA provides advanced dynamic analysis of floating offshore wind turbines, using OrcaFlex and other tools.

The huge size of the US Offshore Wind market in the next two decades is only just being recognized by Offshore Engineers in the USA. The chart below shows what is in the pipeline according to the 2019 US DOE report Wind Energy Data & Technology Trends.

US Offshore Wind Project Pipeline 2019

The above data shows the total wind farm energy that each of 13 states is planning to develop. The US total is a little over 25 GW. Remember that the first and only (as of August 2020) US offshore wind farm, Block Island (Rhode Island) has a Nameplate Capacity of just 30 MW, or 0.03 GW.

The current guideline investment cost for offshore wind farms is estimated to be around $3 billion/GW. This puts the US recognized offshore wind project pipeline at a value of $75 billion in the next decade.

A Wood McKenzie 2020 report estimates that the total investment in US offshore wind will reach $166 billion by 2035. By that time the industry will have become about one third the size of the US Offshore Oil & Gas industry and will be supporting around 80,000 US jobs.