USA - Offshore Wind Power: Present Challenges and Future Realities
Sustainability and resilience are major market drivers reshaping how the power industry views the economics of renewable energy in North America.
The influx of renewable solutions – and the need to integrate them with conventional generation, transmission and distribution infrastructure – has changed the dynamics of the power market and introduced incredible new opportunities.
Increasing client demand for energy solutions that balance conventional and renewable generation sources is seen in the world’s growing embrace of offshore wind power as a key component of a more balanced energy mix. In Europe, offshore wind has been in service for more than two decades. Here in the U.S., the market continues to move forward, and offshore wind can be viewed as the next frontier.
In 2018, the American Wind Energy Association (AWEA) announced 2 GW of new offshore wind projects in the U.S. By 2019, that amount had increased tenfold, to 26 GW of planned projects. These new targets indicate the industry is likely at a tipping point.