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.
Economic Impact & Financing
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.
Report prepared by University of Delaware’s Special Initiative on Offshore Wind. This study recommends a strategic approach the state of New York can take to reduce the costs of offshore wind.
A new study, conducted by the Special Initiative on Offshore Wind for the Energy Research and Development Authority, offers a roadmap of key strategic steps 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 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 and nearby areas such as .
The study identifies multiple paths for reducing offshore wind power costs in , 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 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
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
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
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.