Massive U.S. Offshore Wind to Spin New Renewable Energy Industry Growth

The world’s largest wind turbines, which are 853 feet tall or nearly the height of NYC’s Chrysler Building and 12 megawatts (MW), are made by General Electric Co.(GE) and will be installed off the coast of Maryland and New Jersey.  Denmark-based Orsted A/S will install 120 MW of offshore wind in Maryland by 2022. The 1,100 MW to be installed off the Atlantic City coast of New Jersey by 2024 will power an estimated half a million homes.
Nine East Coast states committed to assemble 20 GW of offshore power by 2035. New Jersey set a goal totaling 3.5 GW and New York set a goal of 9 GW or enough electricity to power 6 million homes. This is the beginning of what analysis’s predict could become a $70 billion industry. BloombergGE Reports