Offshore wind developers have poured billions of dollars into securing leases in state and federal waters in recent months, with many more billions to be spent developing wind assets to support ambitious state and federal goals for the energy transition. With this influx of new infrastructure spending and offshore lease sales, the offshore wind industry is continuing to build momentum as a source of renewable power in the United States. Here are three things to watch over the next year.
Emerging Solutions to Grid Connectivity
As we have previously discussed, the existing onshore grid was not designed to accommodate large amounts of offshore power. The energy transition is shifting where electricity is generated, and the webs of transmission lines necessary to deliver that electricity to demand centers require significant upgrades and new construction. This is perhaps most true for offshore wind generation, as potential interconnection points near offshore production areas are limited.