US states race to the top with recent offshore wind announcements

There have been both small and large announcements relating to the offshore wind industry from northeastern US states this month. The governors of New Jersey, New York, Massachusetts and Rhode Island are all clamoring to dub their respective states as the “US Offshore Wind Hub” and the recent policies, studies and rules they have announced are just the start of a race to see who can be the leader of the offshore industry in the Northeast.

RCG’s analysis shows that market demand in six key states (CT, MA, MD, NJ, NY, RI) will be approximately 9,658 MW by 2030. The recent announcements increase the certainty of this predicted market demand and shows that the offshore wind industry is bound for take off in the US.

Exhibit: Predicted volume of contracted US offshore wind, 2018-2030