Oceantic Network’s 2024 U.S. Offshore Wind Market Report shares breaking details on events, market trends, supply chain advancements, and policy changes, ensuring companies in the supply chain are informed of developments that impact their business. This report is available exclusively for Network members. Non-members can access the Executive Summary below.
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The report details important developments that affected the U.S. offshore wind industry in 2023, including:
- The offshore wind capacity approved for construction by the federal government grew 800% –from 0.93 GW to 8.3 GW in 2023.
- Developers terminated 51% of power contracts in place prior to 2023 and are seeking financial support for another 24%.
- Despite setbacks, 2023 saw several key announcements of new manufacturing facilities, port infrastructure upgrades, and offshore wind vessels.
- States spent much of 2023 working to create interstate cooperation frameworks in order to stabilize regional markets, lower project costs, and increase economic benefits.
