Construction of 2,000 megawatts of wind power off Massachusetts’ shores could cut the current price in half, according to a new study released by the University of Delaware’s Special Initiative on Offshore Wind. The development of the three offshore wind farms between 2020 and 2030—a possible requirement for the utilities in Massachusetts now being discussed—could reduce the levelized cost of wind energy from a current estimated 24¢ per kilowatt hour to 10¢ per kilowatt hour—a price that is competitive with current wholesale electricity prices in New England. The reductions in price would come from experience gained from installing transmission lines, upgrading infrastructure and using increasingly efficient component parts, the study found. Currently, only one 30- megawatt offshore wind farm, off Rhode Island’s coast, is under construction in the U.S. Though three developers hold leases from the Dept. of the Interior to build off Massachusetts’ coast, a fourth project, the proposed 468-MW Cape Wind project in Nantucket Sound, is tied up in court.
New Project Could Cut Cost of Offshore Wind by Half
March 23, 2016