Economic Impact & Financing
In a letter to Governor Christie, Senators, legislators, organizations, and businesses urge the Governor to incentivize offshore wind development as directed by the Offshore Wind Economic Development Act by requiring the BPU to implement OREC rules.
This document is available online at: http://www.environmentnewjersey.org/news/nje/shore-wind-letter-gov-christie
The bill would extend expired provisions for two years—retroactively from January 1, 2015, through December 31, 2016. The bill would extend the PTC and ITC, and includes modifications to some of the expired provisions, as well as a few revenue raising provisions.
This document is available online at: http://www.finance.senate.gov/hearings/hearing/?id=19ebd115-5056-a055-6476-dfa0734f0773
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
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."
This NREL analysis takes a look at the US offshore wind market and discusses the barriers and challenges to growing the industry. Technological advances, siting strategies, risk reduction, and accelerated permitting can all play a significant role in driving the US market.
This report is intended to provide offshore wind industry stakeholders a basis for evaluating potential cost saving installation, operation, and maintenance (IO&M) strategies and technologies.
The objective of this report is to provide a comprehensive annual assessment of the U.S. offshore wind market. The report will be updated and published annually for a three-year period. The report was first published in early 2013 covering research performed in 2012. This 2nd annual report focuses on new developments that have occurred in 2013. The report will provide stakeholders with a reliable and consistent data source addressing entry barriers and U.S. competitiveness in the offshore wind market.
This report uses the offshore wind Jobs and Economic Development Impacts (JEDI) model and provides four case studies of potential offshore wind deployment scenarios in different regions of the United States: the Southeast, the Great Lakes, the Gulf Coast, and the Mid-Atlantic. Researchers worked with developers and industry representatives in each region to create potential offshore wind deployment and supply chain growth scenarios, specific to their locations. These scenarios were used as inputs into the offshore JEDI model to estimate jobs and other gross economic impacts in each region.
Report documents the unique benefits of Atlantic offshore wind power, evaluates the progress of offshore wind made to date, and identifies the critical actions state leaders must take to ensure the success of offshore wind.