North American Offshore Wind Market Outlook

The United States offshore wind energy market remains poised for explosive growth, with over 23 GW of new installations expected to come online by 2029. Demand is supported by robust state level offshore wind initiatives across seven states and is further enabled by federal auctions of Offshore Wind Area (OWA) leases on the part of the Bureau of Ocean Energy Management (BOEM). The former will support over 29 GW of installations through 2035.

During this webinar, Wood Mackenzie head of wind research Dan Shreve will provide an overview of: 1) The impact of the Investment Tax Credit (ITC) extension on near-term market demand 2) Near-term scheduling delays due to the Bureau of Ocean Energy Management (BOEM) Environmental Impact Statement process 3) Investment opportunities for port infrastructure improvement and deployment of Jones Act compliant installation vessels Transmission infrastructure and other power market challenges.