Analysis shows the cost of U.S. offshore wind technology could reach as low as $20-30/MWh by 2050. These plummeting costs, as well as policy and technology developments, are making offshore wind a critical renewable energy resource to meet anticipated U.S. electricity demand, state clean energy targets, and regional emission reduction goals.

This research memo summarizes current and expected offshore wind development and costs, and recommends seven policies to help federal and state policymakers maximize the potential of offshore wind to achieve energy and climate goals, while creating job and strengthening the economy.