July 29, 2021 Read More →

IHS Markit: US 2030 offshore wind goal likely to be short by one-third

ReNews Biz:

US offshore wind capacity is expected to hit 21GW by 2030, missing the White House’s target by 30%, according to a new report from IHS Markit. 

Driven by $100bn (€84.5bn) in investment, the evolution of the US offshore wind market is being boosted by an increase in state-level policy commitments, federal lease sales, offtake agreements, and supply chain activities.

But bottlenecks in the market and a crucial lack of infrastructure mean that US President Joe Biden’s offshore wind target of 30GW by 2030 will almost certainly be missed, the report concludes. 

IHS Markit expects US offshore wind installed capacity to reach 21GW by 2030, up from just 42MW at present.

This would represent impressive growth in the US share of the global total installed offshore wind capacity, from close to 0% to around 9% in 2030.

Complex and lengthy permitting processes combined with a lack of manufacturing facilities, specialised US-flagged installation and service vessels, dedicated ports plus poor power transmission infrastructure continue to be the key bottlenecks hampering more rapid growth of the US offshore wind capacity.

[Staff Report]

More: US 30GW offshore wind target ‘will be missed’

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