The report “Federal Revenue and Economic Impacts from BOEM Offshore Wind Leasing” has been prepared by American Clean Power. The Bureau of Ocean Energy Management (BOEM) is the agency tasked with overseeing offshore renewable energy development in federal waters. To date, BOEM has conducted 8 competitive lease sales and there are currently 18 active leases with an estimated potential of 25.5 GW of total capacity. This is only 64% of the 40 GW states require, and further state action will only increase the need for additional leasing.

In October 2021, BOEM announced a proposed schedule for seven new lease area auctions across the United States by 2025. This study forecasts the revenue that BOEM could expect to accrue both from the sale of the area leases and the long-term rents and operating fees paid by projects developed in those areas, which necessarily involves estimating the size of the lease areas that will go to auction in the remaining four lease areas. Economic impacts from these future projects are also calculated.

Download the report here