The Great Offshore Wind Divide: Global Boom Meets American Bust
While the global offshore wind industry is accelerating, with China, Europe, and Asia-Pacific rapidly expanding capacity and setting ambitious targets, the United States market is experiencing a severe contraction. In 2023 alone, over 12 gigawatts of US projects were canceled or renegotiated as developers like Ørsted faced billions in losses. This article explores the core economic and policy fissures creating this stark divergence. It analyzes how inflation, supply chain costs, and rigid regulatory frameworks are crippling US ambitions, even as the federal government pushes forward with new lease sales and a long-term 110-gigawatt roadmap. The analysis reveals a critical moment for the US energy transition, where global momentum clashes with local market realities.