New offshore wind report showcases transformational year for industry

The Business Network’s annual U.S. Offshore Wind Market Report analyzes the Biden administration’s 30 GW by 2030 goal and breaks down industry developments by regions, states, and key sectors

Baltimore, Maryland, UNITED STATES


Baltimore, Feb. 14, 2022 (GLOBE NEWSWIRE) -- The Business Network for Offshore Wind today released its annual U.S. Offshore Wind Market Report & Insights. The report identifies 2021 as a transformational  year that kickstarted the U..S. offshore wind industry, sparking supply chain investment and transforming it into a national industry. Offshore wind's rapid growth attracted the attention of domestic suppliers, with commitments made for new manufacturing facilities, port development, transmission, and other vital infrastructure needs. The 2022 report breaks down opportunities for industry growth building off of 2021 developments and outlines the actions needed for the U.S. to capitalize on the fast growing, global industry.  

 The Network publishes its report annually for its members on the state of the U.S. market. It includes state-by-state capacity procurements, increases in government deployment targets, project timelines, and the latest supplier contracts and market developments. Data analysis clearly shows an uptick in offshore wind supply chain development in 2021, demonstrated by a 61 percent growth in the Network’s Supply Chain Connect registry and billions of dollars in new investments.

“The U.S. offshore wind market became a national industry in 2021,” said Liz Burdock, CEO of the Business Network for Offshore Wind, the only non-profit solely focused on growing the offshore wind industry and its supply chain. “States on three coasts now have active wind programs or interests, suppliers are located in more than 30 states, and nearly $7 billion has been invested in the U.S. offshore wind market to-date, over $2 billion alone in 2021.”

 Credentialed news media may obtain a copy of the proprietary 2022 U.S. Offshore Wind Market Report & Insights report to quote from (but not repost). Insights include U.S. offshore wind investments to-date, the number of gigawatts of offshore wind capacity under development, supply chain metrics (including development by region and business sector), state capacity procurements in 2021, and an overview of updated state offshore wind deployment targets. The report also analyzes where we are one year after the Biden administration’s established the first national offshore wind goal of deploying 30 GW by 2030. Additionally, it examines U.S. offshore wind industry developments by regions, states, and crucial sector developments as well as forecasts key 2022 developments (access the free Executive Summary online).

“Critical industry benchmarks were achievable because of the Biden administration’s whole-of-government approach that saw collaboration between the Departments of Interior, Energy, Commerce, Transportation, and others,” added Burdock. “However, the U.S. must not let up its pace because global competition in offshore wind is fierce and intensifying. The U.S. market  needs more businesses that can expand and adapt their current capabilities – the good news is, 2021 proved there’s a lot of opportunity for growth within offshore wind.”

The Business Network also hosts the International Offshore Wind Partnering Forum (IPF), the largest offshore wind event in the Western Hemisphere. This year, IPF will be held April 26 – 28 in Atlantic City, New Jersey at the Atlantic City Convention Center with host sponsors Atlantic Shores, NJEDA, Ørsted, and Vestas.

 

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