An analysis by Aegir Insights shows that US states with Atlantic coastlines are planning to build offshore wind farms with a total of 53 gigawatts (GW) of capacity over the next ten years, reports Recharge News.

The lofty target, which exceeds the potential capacity of the relevant sea area by 3 gigawatts, means that wind developers are in the ”driver’s seat” with a - going forward - ”fundamentally favorable imbalance” in supply and demand that will ensure wind developers can withstand recent inflation, higher interest rates and rising costs.

The analysis must be encouraging reading for wind developers, as a large number of these have recently abandoned the development of otherwise quite advanced offshore wind projects because their profitability had evaporated due to supply chain delays, higher costs and increased financing costs.

While some projects have been canceled, a number of others have also been recalculated with higher electricity sales prices, or will be, for new bidding rounds.

One of these projects is Ørsted’s Sunrise wind farm, which in a new bidding round has secured a price of an estimated USD 150 per megawatt hour compared to the original USD 110.37. A boost of almost 36%.

”A new price equilibrium point is emerging, signaling a successful reset of the US offshore wind market,” writes Aegir, according to Recharge News.

Translated using DeepL with additional editing by Kristoffer Grønbæk