Renewable Energies & Hydrogen Strategic Markets

U.S. government has given a head start to clean energy as an effort to tackle the climate crisis and achieve the climate targets:

• Reducing U.S. greenhouse gas emission 50-52% below 2005 levels in 2030
• Reaching 100% carbon pollution-free electricity by 2035
• Achieving a net-zero emissions economy by 2050.

Today, the clean energy industry offers a significant opportunity for the economical and societal development in the United States. It can help generate high volumes of investments, create good-paying jobs, and restore U.S. technological leadership.

Currently, the operating wind, solar and energy storage in the United States amounts to more than 227 GW. The renewables make up already one fifth of the country’s power generation, supplying 61 million households across America with clean power.

The clean energy is also a key driver to creating jobs and investments. Approx. 443,000 are employed in the industry and $434 billion capital has been invested in the wind, solar and energy storage projects. Texas is ranked the first among all states in terms of installed renewables capacity.  

Wind Energy

With nearly 70,000 wind turbines and a total of nearly 140 GW, wind power is America’s largest source of renewable electricity generation, providing 10,2% of the country’s power which can meet the consumption need of 43 million homes in the United States.

In 2022, the Biden-Harris Administration launched new actions to expand offshore wind energy in the United States. It set an ambitious goal of deploying 30 GW of offshore wind by 2030, enough to power 10 million homes with clean energy, create 83,000 jobs, foster new investments, and support local supply chain. The strong political willingness and support provide a high sense of optimism and confidence both for the states and offshore wind businesses.

Since then, states across America have established nearly 7,4 GW of offshore wind procurement targets. Especially US states on the Eastern Coast (New York, Virginia, Massachusetts, and North Carolina) are the first movers in accelerating the development of offshore wind. The huge population and high demand for electricity, ideal wind conditions and seabed depths suitable for fixed-bottom foundations, these are the main reasons why Eastern states are leading the way.

European and German companies such as Ørsted, RWE and Equinor have achieved success in the first offshore lease auctions to develop offshore wind farms. REH’s member RWE has secured an area in the New York and California auction respectively. The project in New York is set to install a capacity of about 3 GW by 2030. And in California, RWE is going to build its first commercial floating offshore wind farm with up to 1,6 GW by the mid-2030. Most recently, Siemens Gamesa Renewable Energy announced the intend to build a manufacturing facility for offshore wind turbine nacelle in the New York region.