RPS, RECs, & PPAs

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:

Massachusetts RFP for 400 MW of Offshore Wind Generation

Source/Sponsor: 
Massachusetts Department of Energy Resources
Creator/Author: 
Massachusetts Department of Energy Resources
Description: 
In coordination with the Massachusetts Department of Energy Resources (DOER), the state’s investor-owned electric distribution companies (Fitchburg Gas & Electric Light Co., d/b/a Unitil; Massachusetts Electric Co., d/b/a National Grid; Nantucket Electric Co., d/b/a National Grid; NSTAR Electric Co. d/b/a Eversource Energy; and Western Massachusetts Electric Co., d/b/a Eversource Energy) issued a joint RFP for 400 MW of offshore wind generation. 
 
Bids were received from Bay State Wind, Deepwater Wind, and Vineyard Wind. The bids can be viewed here.
pdf
Publication Date: 
Thursday, June 29, 2017
613 KB
Resource Type: 
Document

New York Governor Cuomo Proposes Development of up to 2.4 GW of offshore wind by 2030

Source/Sponsor: 
New York State
Creator/Author: 
NY Governor's Office
Description: 
Gov. Andrew M. Cuomo, D-N.Y., has called on the Long Island Power Authority (LIPA) to approve what would be the nation’s largest offshore wind farm. In addition, the governor has proposed a commitment to develop up to 2.4 GW of offshore wind off the coast of New York by 2030. The 2.4 MW offshore wind proposal represents the largest offshore wind commitment in U.S. history.
 
Deepwater Wind’s proposed 90 MW South Fork project would be situated roughly 30 miles southeast of Montauk, N.Y. According to a press release from Cuomo, LIPA has indicated that contract negotiations are close to being completed, and the project will be voted on at its January meeting.
Publication Date: 
Wednesday, January 11, 2017
Resource Type: 
Website
State: 
Multi-State:

Long Island Power Authority Approves 20-year Contract with Deepwater Wind

Source/Sponsor: 
Long Island Power Authority
Creator/Author: 
LIPA
Description: 

 

New York has given the go-ahead to what would be the nation's largest offshore wind farm, a 90 MW installation to be located 30 miles southeast of Montauk and out of sight of Long Island. The Long Island Power Authority (LIPA) this week approved a 20-year contract with Deepwater Wind's South Fork Wind Farm, specifying it would pay only for the energy and not construction or operation. Deepwater Wind has said construction on the wind farm could start by 2019 with the project in operation by 2022. http://bit.ly/2nNig4q

New York has given the go-ahead to what would be the nation's largest offshore wind farm, a 90 MW installation to be located 30 miles southeast of Montauk and out of sight of Long Island. The Long Island Power Authority (LIPA) this week approved a 20-year contract with Deepwater Wind's South Fork Wind Farm, specifying it would pay only for the energy and not construction or operation. Deepwater Wind has said construction on the wind farm could start by 2019 with the project in operation by 2022.

pdf
125 KB
Publication Date: 
Wednesday, January 25, 2017
Resource Type: 
Document
State: 
Multi-State:

Federal Incentives/Policies for Renewables & Efficiency

Source/Sponsor: 
Database of State Incentives for Renewables & Efficiency (DSIRE)
Creator/Author: 
Database of State Incentives for Renewables & Efficiency (DSIRE)
Description: 

The database provides summaries of federal financial incentives and rules, regulations, and policies that promote renewable energy and energy efficiency, including: business energy investment tax credit (ITC); renewable electricity production tax credit (PTC); and, section 1603 Department of Treasury renewable energy grant program.

Link to DSIRE website:  Federal page

Resource Type: 
Website

Recommended Criteria and Process for the Evaluation and Selection of Offshore Wind Applications

Source/Sponsor: 
Maryland Public Service Commission Staff
Creator/Author: 
Levitan & Associates
Description: 

From the Introduction and Overview: "This report was prepared to make certain that the Commission's offshore wind procurement, evaluation, and selection process (i) is as fair, transparent, and workable as possible, (ii) leads to robust and competitive bids, and (iii) preserves the ratepayer protections defined in the Maryland Offshore Wind Energy Act of 2013."

pdf
17 MB
Publication Date: 
Friday, April 4, 2014
Resource Type: 
Document

New York Offshore Wind Cost Reduction Study

Source/Sponsor: 
Special Initiative on Offshore Wind
Creator/Author: 
Stephanie McClellan
Description: 

A new study, conducted by the University of Delaware's Special Initiative on Offshore Wind for the New York State Energy Research and Development Authority, offers a roadmap of key strategic steps New York State can take to reduce costs of offshore wind power over the next decade. The study finds that ongoing technology and industry advances combined with actions New York could take, independently or with other states, could lower costs for offshore wind power as much as 50 percent and bring the clean-energy source closer to realizing its potential for "delivering utility-scale renewable electric generation" to New York City and nearby areas such as Long Island.  

A primary conclusion from the report is that supporting offshore wind development at scale, rather than on a project-by-project basis, could have the greatest impact on reducing costs.  Other actions the report cites that could lower costs include creating and using innovative financing mechanisms, developing infrastructure to reduce costs, and supporting site characterization for early projects to reduce development expenses and risk.

The study notes that while onshore wind development has expanded rapidly in the U.S., no operational offshore wind power projects have been completed to date due to complex construction challenges and the need for operational infrastructure that doesn't exist today in the U.S.  These factors lead to high costs and have delayed deployment.

The study identifies multiple paths for reducing offshore wind power costs in New York State, emphasizing that the "State can take actions in the near term to lower its costs substantially, independent of expected external reductions over the next decade." The study finds that taking advantage of wind turbine innovations and other technology and industry advances could lower costs about 20 percent. Direct steps taken by New York State could contribute up to an additional 30 percent reduction in a project's cost.http://www.ceoe.udel.edu/File%20Library/About/SIOW/New-York-Offshore-Wind-Cost-Reduction-Study-ff8-2.pdf

Publication Date: 
Tuesday, March 10, 2015
Resource Type: 
Document
State: 

Cape Wind Contracts Terminated

Source/Sponsor: 
NSTAR, National Grid
Creator/Author: 
NSTAR, National Grid
Description: 

The two major PPAs for Cape Wind's offshore wind power were terminated in January 2015. Details are available here: http://www.masslive.com/business-news/index.ssf/2015/01/cape_wind_loses_contracts_with_northeast.html

Publication Date: 
Tuesday, January 6, 2015
Resource Type: 
Other

SR112 Senate Resolution in Support of Offshore Wind

Source/Sponsor: 
Sen. Bob Smith, Sen. Stephen Sweeney
Creator/Author: 
Sen. Bob Smith, Sen. Stephen Sweeney
Description: 

A Senate Resolution urging the Board of Public Utilities to expeditiously adopt regulations pursuant to the “Offshore Wind Economic Development Act” to implement an offshore wind renewable energy certificate program and pursuant to the “Electric Discount and Energy Competition Act” to establish energy efficiency portfolio standards.  http://www.njleg.state.nj.us/2014/Bills/SR/112_I1.HTM

Publication Date: 
Thursday, January 15, 2015
Resource Type: 
Document
State: 

NJ Senate Bill 2711 in Support of Offshore Wind

Source/Sponsor: 
Sen. Bob Smith, Sen. Jim Whelan
Creator/Author: 
Sen. Bob Smith, Sen. Jim Whelan
Description: 

This bill would require the Board of Public Utilities to approve a qualified wind energy project that is located in territorial waters offshore of a municipality in which casino gaming is authorized as provided in section 4 of P.L.2010, c.57 (C.48:3-87.2). The bill  would also remove the requirements that (1) the entity seeking to construct the project prepare and submit a cost-benefit analysis to the board, and (2) the board's approval of the project depend in part upon the results of a cost-benefit analysis.

 

pdf
126 KB
Publication Date: 
Thursday, January 15, 2015
Resource Type: 
Document
State: 

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