The US announced a target o deploying 30 GW of offshore wind capacity by 2030 back in 2021. This ambitious goal helped create certainty for developers and the supply chain. The announcement has also unlocked billions of dollars in investments into US communities. While developers welcomed the clear pipeline of offshore wind projects, now comes the difficult part; getting the projects permitted, installed, and operating.
As an emerging market within offshore wind, the US does not have an established supply chain. Currently, the offshore wind industry globally and in the US faces several challenges including persistently high inflation, rising cost of capital, and high demand for foundation and turbine installation vessels. In addition to a lack of available vessels there is another challenge, namely the Jones Act. In short, the Jones Act requires that goods from one American port to another American port be transported on a ship that is American-built, American-owned and crewed by US citizens or permanent residents. This presents a challenge as currently there are no operating US flagged, owned, or manned wind installation vessels.