The US will need around $36bn over the next decade to meet its needs for offshore wind port infrastructure gap, new research states.
The Business Network for Offshore Wind released its new report, Building a National Network of Offshore Wind Ports: A $36B Plan for Domestic Clean Energy Infrastructure, which highlights the urgent need for private and public investment in US offshore wind port development and outlines potential solutions for unlocking the needed capital to build the US industry.
Authored by Brian Sabina, CEO of Clean Energy Terminals, in partnership with the Network’s member-driven Ports Working Group, the report is a $36bn plan for developing domestic port infrastructure to help the US reach its offshore wind deployment goals of 30GW by 2030 and 110GW by 2050.
The report warned that port infrastructure is one of the most significant bottlenecks impeding the advancement of the US offshore wind industry.
The US will need approximately 99-119 port development sites across the East Coast, West Coast, and the Gulf of Mexico to support the full buildout of the country’s offshore wind industry, with only 35 ports currently operating or under development.
Without additional government funding and policy supports that incentivise or de-risk private investment into US offshore wind port infrastructure, port capacity will continue to be a major offshore wind deployment constraint across the country.
In addition, the needs of specialised ports on the West Coast to support floating offshore wind development comprise more than a third of the overall US market need.
“The offshore wind industry has gained enormous momentum in just the last year, with steel in the water on the first two US commercial-scale projects,” said Liz Burdock, President and CEO of the Business Network for Offshore Wind.
“However, the shortage of port infrastructure developments is a critical bottleneck to industry growth that risks derailing progress. Federal and state governments must work together with private industry to incentivise and finance new offshore wind port projects to support our growing industry and create thousands of jobs in the process.”