The Offshore Wind Market Report: 2023 Edition has been prepared by the National Renewable Energy Laboratory and the U.S. Department of Energy Office of Energy Efficiency and Renewable Energy Wind Energy Technologies Office.

Key highlights of the report:

  • The U.S. offshore wind pipeline has an estimated capacity of 52,687 MW, a growth of 15% from May 31, 2022. The 40,083 MW reported in 2022 was revised upward to 45,772 MW due to an increase in the capacity density metric from 3 MW/square kilometer (km2) to 4 MW/km2.
  • U.S. offshore wind energy target was set in March 2021 for 30 GW by 2030 with pathway to 110 GW by 2050. Further, there have been 42,730 MW of policy commitments from seven eastern states by 2040.
  • Lease area auction prices have increased logarithmically since 2013. States with strong procurement policies and deployment mandates have higher lease prices.

Access the report here