Oceantic Network releases its U.S. Offshore Wind Quarterly Market Report in April, July, and October. Each report builds off our U.S. Offshore Wind Annual Market Report and provides key analysis of both federal and state government activities impacting the U.S. offshore wind industry. The quarterly reports ensure companies are informed on offshore wind industry developments affecting their business.
Notable milestones for the first three months of 2024 include Ørsted and Eversource’s completion of South Fork Wind project in March. Next up is Vineyard Wind, to be completed later this year, which also began delivering power to the grid. Meanwhile, two new projects, which are collectively triple the size of South Fork and Vineyard, were announced to begin installation this summer.
The report details important developments that affected the U.S. offshore wind industry in the third quarter of 2023, including:
- Four new crew transfer vessels, the workhorse of the offshore wind industry, have launched in just the past three months.
- The Bureau of Ocean Energy Management (BOEM) increased the total capacity approved for construction by over 30%
- New IRS tax guidance will drive down costs for a range of offshore wind activities across the East Coast.
- Four new crew transfer vessels, the workhorse of the offshore wind industry, have launched in just the past three months.
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