The Cost of Offshore Wind Energy in the United States From 2025 to 2050

This study presents estimates of the levelized cost of energy (LCOE) of offshore wind energy throughout major U.S. coastal regions between a time frame of 2025 - 2050. The LCOE modeling accounts for impacts of supply chain shocks, inflation, and rising interest rates on cost. Given the near-term uncertainty in these factors, we present three possible scenarios driven by how uncertainty in costs, technology, and deployment may evolve over time. The cost increases reported by industry in recent years will likely be felt over next several years, but we expect long-term cost reductions enabled by growing offshore wind deployment and industry learning. This study helps inform decision-makers about the potential role that offshore wind energy can play in future clean energy strategies.