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Title: 2014-2015 Offshore Wind Technologies Market Report

Abstract

This report provides data and analysis to assess the status of the U.S. offshore wind industry through June 30, 2015. It builds on the foundation laid by the Navigant Consortium, which produced three market reports between 2012 and 2014. The report summarizes domestic and global market developments, technology trends, and economic data to help U.S. offshore wind industry stakeholders, including policymakers, regulators, developers, financiers, and supply chain participants, to identify barriers and opportunities. Title page contains link to associated data tables posted at http://www.nrel.gov/docs/fy15osti/64283_data_tables.xlsx.

Authors:
 [1];  [1];  [1]
  1. National Renewable Energy Lab. (NREL), Golden, CO (United States)
Publication Date:
Research Org.:
National Renewable Energy Lab. (NREL), Golden, CO (United States)
Sponsoring Org.:
USDOE Office of Energy Efficiency and Renewable Energy (EERE), Wind and Water Technologies Office (EE-4W)
OSTI Identifier:
1225506
Report Number(s):
NREL/TP-5000-64283
DOE Contract Number:
AC36-08GO28308
Resource Type:
Technical Report
Country of Publication:
United States
Language:
English
Subject:
17 WIND ENERGY; offshore wind; market report; analysis; 2014-2015; technology trends; cost trends; NREL

Citation Formats

Smith, Aaron, Stehly, Tyler, and Musial, Walter. 2014-2015 Offshore Wind Technologies Market Report. United States: N. p., 2015. Web. doi:10.2172/1225506.
Smith, Aaron, Stehly, Tyler, & Musial, Walter. 2014-2015 Offshore Wind Technologies Market Report. United States. doi:10.2172/1225506.
Smith, Aaron, Stehly, Tyler, and Musial, Walter. 2015. "2014-2015 Offshore Wind Technologies Market Report". United States. doi:10.2172/1225506. https://www.osti.gov/servlets/purl/1225506.
@article{osti_1225506,
title = {2014-2015 Offshore Wind Technologies Market Report},
author = {Smith, Aaron and Stehly, Tyler and Musial, Walter},
abstractNote = {This report provides data and analysis to assess the status of the U.S. offshore wind industry through June 30, 2015. It builds on the foundation laid by the Navigant Consortium, which produced three market reports between 2012 and 2014. The report summarizes domestic and global market developments, technology trends, and economic data to help U.S. offshore wind industry stakeholders, including policymakers, regulators, developers, financiers, and supply chain participants, to identify barriers and opportunities. Title page contains link to associated data tables posted at http://www.nrel.gov/docs/fy15osti/64283_data_tables.xlsx.},
doi = {10.2172/1225506},
journal = {},
number = ,
volume = ,
place = {United States},
year = 2015,
month = 9
}

Technical Report:

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  • This report provides data and analysis to assess the status of the U.S. offshore wind industry through June 30, 2015. It builds on the foundation laid by the Navigant Consortium, which produced three market reports between 2012 and 2014. The report summarizes domestic and global market developments, technology trends, and economic data to help U.S. offshore wind industry stakeholders, including policymakers, regulators, developers, financiers, and supply chain participants, to identify barriers and opportunities.
  • This presentation provides an overview of progress toward offshore wind cost reduction in Europe and implications for the U.S. market. The presentation covers an overview of offshore wind developments, economic and performance trends, empirical evidence of LCOE reduction, and challenges and opportunities in the U.S. market.
  • The objective of this report is to provide a comprehensive annual assessment of the U.S. offshore wind market.This 3rd annual report focuses on new developments that have occurred in 2014. The report provides stakeholders with a reliable and consistent data source addressing entry barriers and U.S. competitiveness in the offshore wind market. Available for download are both the full report and the report's underlying data.
  • Wind power capacity additions in the United States rebounded in 2014, and continued growth through 2016 is anticipated. Recent and projected near-term growth is supported by the industry’s primary federal incentive—the production tax credit (PTC)—which is available for projects that began construction by the end of 2014. Wind additions are also being driven by recent improvements in the cost and performance of wind power technologies, which have resulted in the lowest power sales prices ever seen in the U.S. wind sector. Growing corporate demand for wind energy and state-level policies play important roles as well. Expectations for continued technological advancementsmore » and cost reductions may further boost future growth. At the same time, the prospects for growth beyond 2016 are uncertain. The PTC has expired, and its renewal remains in question. Continued low natural gas prices, modest electricity demand growth, and limited near-term demand from state renewables portfolio standards (RPS) have also put a damper on growth expectations. These trends, in combination with increasingly global supply chains, have limited the growth of domestic manufacturing of wind equipment. What they mean for wind power additions through the end of the decade and beyond will be dictated in part by future natural gas prices, fossil plant retirements, and policy decisions.« less
  • According to the 2014 Wind Technologies Market Report, total installed wind power capacity in the United States grew at a rate of eight percent in 2014, bringing the United States total installed capacity to nearly 66 gigawatts (GW), which ranks second in the world and meets 4.9 percent of U.S. end-use electricity demand in an average year. In total, 4,854 MW of new wind energy capacity were installed in the United States in 2014. The 2014 Wind Technologies Market Report also finds that wind energy prices are at an all-time low and are competitive with wholesale power prices and traditionalmore » power sources across many areas of the United States. Additionally, a new trend identified by the 2014 Wind Technologies Market Report shows utility-scale turbines with larger rotors designed for lower wind speeds have been increasingly deployed across the country in 2014. The findings also suggest that the success of the U.S. wind industry has had a ripple effect on the American economy, supporting 73,000 jobs related to development, siting, manufacturing, transportation, and other industries.« less