The offshore wind industry has been slow to take hold in the United States but is now gaining momentum among policymakers and financiers. The success of Block Island Wind Farm, the United States’ first operational offshore wind farm located off the coast of Rhode Island, and a growing demand for renewable energy are signs of new potential for development. With the right policy drivers and a robust stakeholder engagement process, coastal and Great Lakes states can harness the economic potential of offshore wind to create jobs and produce clean, renewable energy for years to come.
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U.S. offshore wind could generate more than 7,200 TWh per year, nearly double the nation’s current electricity use.
Full deployment of offshore wind could provide $440 million in annual lease payments, $680 million in annual property tax payments, and up to 160,000 jobs.
Research shows offshore wind farms can act as marine preservation areas and support greater biodiversity than unprotected areas.