'Out of reach' | US to fall far short of Biden's 2030 offshore wind goal, say industry experts
BNEF, S&P and WoodMac concur that nation will miss nation's official target by up to 8.5GW on deteriorating project economics and supply chain woes
Major market research firms have revised their 2030 US offshore wind capacity outlooks downward, far short of President Joe Biden's 30GW goal, citing insufficient infrastructure, supply chain bottlenecks, and worsening macroeconomic conditions.
The official target released in early 2021 “appeared out of reach from the beginning”, according to BloombergNEF, which lowered its outlook to 23.1GW in its 1H 2023 Offshore Wind Market Outlook published this summer. This represents an 11% decline from last year.
