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2018 Offshore Wind Technologies Market Report NOTICE

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2018 Offshore Wind Technologies Market Report NOTICE 2018 Offshore Wind Technologies Market Report NOTICE This report is being disseminated by the U.S. Department of Energy (DOE). As such, this document was prepared in compliance with Section 515 of the Treasury and General Government Appropriations Act for fiscal year 2001 (public law 106-554) and information quality guidelines issued by DOE. Though this report does not constitute “influential” information, as that term is defined in DOE’s information quality guidelines or the Office of Management and Budget’s Information Quality Bulletin for Peer Review, the study was reviewed both internally and externally prior to publication. For purposes of external review, the study benefited from the advice and comments of nine energy industry stakeholders, U.S. Government employees, and national laboratory staff. This report was prepared as an account of work sponsored by an agency of the United States government. Neither the United States government nor any agency thereof, nor any of their employees, makes any warranty, express or implied, or assumes any legal liability or responsibility for the accuracy, completeness, or usefulness of any information, apparatus, product, or process disclosed, or represents that its use would not infringe privately owned rights. Reference herein to any specific commercial product, process, or service by trade name, trademark, manufacturer, or otherwise does not necessarily constitute or imply its endorsement, recommendation, or favoring by the United States government or any agency thereof. The views and opinions of authors expressed herein do not necessarily state or reflect those of the United States government or any agency thereof. Available electronically via www.OSTI.gov. Available for a processing fee to U.S. Department of Energy and its contractors, in paper, from: U.S. Department of Energy Office of Scientific and Technical Information P.O. Box 62 Oak Ridge, TN 37831-0062 OSTI http://www.osti.gov Phone: 865.576.8401 Fax: 865.576.5728 Email: [email protected] Available for sale to the public, in paper, from: U.S. Department of Commerce National Technical Information Service 5301 Shawnee Road Alexandria, VA 22312 NTIS http://www.ntis.gov Phone: 800.553.6847 or 703.605.6000 Fax: 703.605.6900 Email: [email protected] ii | 2018 Offshore Wind Technologies Market Report 2018 Offshore Wind Technologies Market Report Primary Authors Walter Musial, National Renewable Energy Laboratory Philipp Beiter, National Renewable Energy Laboratory Paul Spitsen, U.S. Department of Energy Jake Nunemaker, National Renewable Energy Laboratory Vahan Gevorgian, National Renewable Energy Laboratory List of Figures .................................................................................................................................................... iv List of Tables ...................................................................................................................................................... vi Acknowledgments ........................................................................................................................................... vii Nomenclature or List of Acronyms ............................................................................................................... viii Executive Summary .......................................................................................................................................... ix U.S. Offshore Wind Energy Market−Key Findings .............................................................................. ix Global Offshore Wind Energy Market−Key Findings ......................................................................... xii Offshore Wind Energy Technology Trends−Key Findings.................................................................. xii Offshore Wind Energy Cost and Price Trends−Key Findings ............................................................ xiv Future Outlook ..................................................................................................................................... xv 1 Introduction .................................................................................................................................................. 1 1.1 Approach and Method .................................................................................................................... 2 1.2 Report Structure .............................................................................................................................. 4 2 U.S. Offshore Wind Market Assessment .................................................................................................. 5 2.1 U.S. Offshore Wind Industry Overview ......................................................................................... 5 2.2 U.S. Offshore Wind Market Potential and Project Pipeline Assessment ....................................... 5 2.3 Regulatory Activity ...................................................................................................................... 14 2.4 U.S. Offshore Wind Project Offtake and Policy Assessment ....................................................... 17 2.5 U.S. Infrastructure Trends ............................................................................................................ 21 2.6 Other Regional Developments ...................................................................................................... 22 3 Overview of Global Offshore Wind Development ................................................................................ 24 3.1 Global Offshore Wind Market ...................................................................................................... 24 3.2 Offshore Wind Market Projections ............................................................................................... 29 3.3 Floating Offshore Wind Market Trends ....................................................................................... 33 4 Offshore Wind Technology Trends ......................................................................................................... 38 4.1 Siting Trends for Global Offshore Wind Projects ........................................................................ 38 4.2 Offshore Wind Turbines ............................................................................................................... 41 4.3 Fixed-Bottom Substructures ......................................................................................................... 45 iii | 2018 Offshore Wind Technologies Market Report 4.4 Electrical and Power System Technology .................................................................................... 45 4.5 Floating Technology Trends ......................................................................................................... 48 5 Cost and Pricing Trends .......................................................................................................................... 53 5.1 Fixed-Bottom Pricing Trends ....................................................................................................... 53 5.2 Fixed-Bottom Offshore Wind Cost Trends .................................................................................. 57 5.3 Floating Cost Trends .................................................................................................................... 64 Primary Database Sources ............................................................................................................................ 66 References ....................................................................................................................................................... 66 List of Figures Figure ES-1. Locations of U.S. offshore wind pipeline activity and Call Areas as of March 2019. Map provided by NREL ........................................................................................................................................ x Figure ES-2. U.S offshore wind market forecasts for annual additions (left axis) and cumulative capacity (right axis) through 2030 ......................................................................................................... xi Figure ES-3. A 6-MW floating wind turbine in Equinor’s 30-MW array near Peterhead, Scotland. Photo from Walt Musial, NREL ................................................................................................................ xiii Figure ES-4. Adjusted strike prices from European offshore wind auctions ......................................... xiv Figure 1. Percentages of U.S offshore wind pipeline (25,824 MW) by classification category ............. 6 Figure 2. U.S. project pipeline classification by state ................................................................................... 7 Figure 3. U.S. project pipeline by state ........................................................................................................... 8 Figure 4. Locations of U.S. Atlantic Coast offshore wind pipeline activity and Call Areas as of March 2019. Map provided by NREL ................................................................................................................... 9 Figure 5. Locations of U.S. West Coast offshore wind pipeline activity and Call Areas as of March 2019. Map provided by NREL ................................................................................................................ 10 Figure 6. Locations of Hawaiian offshore wind pipeline
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