The US offshore wind sector is losing momentum as China cements its dominance in the global market. Rystad Energy projects new offshore wind capacity to reach 16 gigawatts (GW) by the end of 2025, with two-thirds of developments in China. By 2030, China is expected to account for 45% of global offshore wind capacity.
US Offshore Wind Falters
Analysts say the US energy pivot toward domestic oil and gas, coupled with policy uncertainty, inflation, and revoked tax breaks, has slowed offshore wind expansion. Stop-work orders hit major projects by Ørsted and Equinor, while legal disputes cloud future progress.
Meanwhile, Chinese state energy giant CNOOC is pushing ahead with its 1.5 GW Hainan CZ7 offshore wind project, targeted for completion before 2030. With US investment in renewables down 36% year-on-year, Europe and China are poised to fill the void. – Offshore Wind Research
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