Does offshore wind have the right stuff to make it as the new kid on the block?

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Does offshore wind have the right stuff to make it as the new kid on the block?

The US has dozens of offshore wind projects in the pipeline as the Biden administration has set its sights on deploying 30 GW of offshore wind by 2030 and 110 GW by 2050. And 11 coastal states have already set procurement targets that exceed 50 GW through 2035 and surpass 75 GW by 2045.

But if the industry wants to build the up to 200 GW of capacity necessary to decarbonize power grids and become a staple in federal waters like the oil and gas sector, early and frequent planning must be a priority. What's more, a new report from The Brattle Group -- commissioned by the American Council on Renewable Energy, known as ACORE, and other clean energy advocacy groups – found that proactive transmission planning over the next several decades could save at least $20 billion in transmission costs associated with reaching the country's offshore wind goals.

S&P Global Commodity Insights power news editor Kassia Micek spoke with José Zayas, ACORE's executive vice president of policy and programs, about the state of the US offshore wind market, steps needed to achieve development goals, and where the wind, oil and shipping industries link up.

Stick around after the interview for Starr Spencer with the Market Minute, a look at near-term oil market drivers.

Related content:

Offshore wind report urges immediate action to reduce costs, barriers to achieve clean energy goals (premium content)

First West Coast offshore wind power lease auction earns $757.1 million in high bids

DOE lab outlines path to triple Biden's offshore wind goal by 2050

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  • Energy Transition

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