Estimating the Value of Offshore Wind Along the United States’ Eastern Coast

Source/Sponsor: 
Lawrence Berkeley National Laboratory
Creator/Author: 
Andrew D. Mills, Dev Millstein, Seongeun Jeong, Luke Lavin, Ryan Wiser, Mark Bolinger
Description: 
A new study by Lawrence Berkeley National Laboratory (LBNL) finds that the market value of offshore wind varies significantly along the U.S. East Coast, depending on the time-varying wind resource profile at a given site, as well as local pricing and market rules within the regional power market.
 
LBNL researchers explored a hypothetical question: what would the marginal economic value of offshore wind projects on the East Coast have been between 2007-2016? The study finds that the historical market value – considering only energy, capacity, and REC value – varies by project location, and is highest for sites offshore NY, CT, RI, and MA
pdf
1 MB
Publication Date: 
Tuesday, May 1, 2018
Resource Type: 
Document
Multi-State: