Developing 30GW of offshore wind along the US East Coast could support up to 83,000 jobs and deliver USD 25 billion in annual economic output by 2030, according to a report released by the American Wind Energy Association (AWEA).
Market projections anticipate 20GW to 30GW of offshore wind capacity will be operational by 2030, representing up to USD 57 billion of investment in the US economy.
AWEA’s report, U.S. Offshore Wind Power Economic Impact Assessment, estimates that developing this amount of offshore wind will support up to 45,000 jobs by 2025 and 83,000 jobs by 2030, depending on the level of offshore wind build and supply chain growth within the U.S.
In addition, the development, construction, and operation of offshore wind projects in the US will deliver annual economic output totaling as much as USD 14 billion in 2025 and USD 25 billion in 2030, according to the report.
“Offshore wind is key to the future of clean energy development in the U.S. and will add to a thriving wind power industry that already represents the largest source of renewable energy in the country,” said AWEA CEO Tom Kiernan.
“The offshore wind industry will create tens of thousands of jobs and provide billions of dollars to the economy, while delivering on its enormous untapped potential to power major population centers up and down the East Coast.”
States along the East Coast are driving demand for offshore wind. Connecticut, Maryland, Massachusetts, New Jersey, New York, and Virginia have targets to procure a total of 25.4GW of offshore wind before 2035. These policies provide certainty for the industry and will enable investment in the American offshore wind supply chain.
“State leaders are seeing the environmental and economic promise of offshore wind and are stepping in to provide the vision and policies to help this industry quickly achieve scale,” Kiernan said.
“Offshore wind, following on the rapid proliferation of land-based wind over the past decade, is positioned to achieve significant growth and deliver jobs and economic output along the East Coast and throughout the rest of the country.”
Offshore wind in the US is set for expansion similar to that of onshore wind, the report said, creating new opportunities for port revitalization and vessel construction.
Project developers and manufacturers have already announced more than USD 1.3 billion of planned investments in port infrastructure, manufacturing facilities, and supply chain development to support offshore wind.