Economic Impact & Financing

Massachusetts Offshore Wind Costs Lower Than Projected

Source/Sponsor: 
University of Delaware
Creator/Author: 
Special Initiative on Offshore Wind
Description: 

A new study by the University of Delaware's Special Initiative on Offshore Wind (SIOW) reports that a commitment by Massachusetts to develop offshore wind (OSW) energy at a scale of 2,000 MW, combined with ongoing technology and industry advances, will lower previously projected costs for the clean energy source by as much as 55 percent in the next decade.

pdf
Publication Date: 
Tuesday, March 15, 2016
79 KB
Resource Type: 
Document

American Clean Energy Investment Act of 2015

Source/Sponsor: 
Sens. Sanders, Berkley and Markey
Creator/Author: 
Sens. Sanders, Berkley and Markey
Description: 
The act Permanently extends the Investment Tax Credit for advanced clean energy property, and expands the 30% credit to offshore wind facilities.
 
pdf
87 KB
Publication Date: 
Tuesday, December 8, 2015
Resource Type: 
Document
Multi-State:

An Offshore Wind Letter to Governor Chris Christie

Source/Sponsor: 
Senator Jim Whelan
Creator/Author: 
Senator Jim Whelan
Description: 

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

Publication Date: 
Wednesday, August 19, 2015
Resource Type: 
Document
State: 

An Original Bill to Extend Certain Expired Tax Provisions

Source/Sponsor: 
US Senate
Creator/Author: 
Sens. Orrin Hatch (R-UT) and Ron Wyden (D-OR)
Description: 

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

Publication Date: 
Tuesday, July 21, 2015
Resource Type: 
Document

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

Large-Scale Offshore Wind Power in the United States: Assessment of Opportunities and Barriers

Source/Sponsor: 
National Renewable Energy Laboratory
Creator/Author: 
Walter Musial, NREL & Bonnie Ram, Energetics
Description: 

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.  

http://www.nrel.gov/wind/pdfs/40745.pdf

Publication Date: 
Wednesday, September 1, 2010
Resource Type: 
Document

Installation, Operation, and Maintenance Strategies to Reduce the Cost of Offshore Wind Energy

Source/Sponsor: 
National Renewable Energy Laboratory
Creator/Author: 
B. Maples, G. Saur, and M. Hand National Renewable Energy Laboratory R. van de Pietermen and T. Obdam Energy Research Centre of the Netherlands
Description: 

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.

http://www.nrel.gov/docs/fy13osti/57403.pdf

Publication Date: 
Monday, July 1, 2013
Resource Type: 
Document
Multi-State:

Offshore Wind Market and Economic Analysis

Source/Sponsor: 
US Department of Energy
Creator/Author: 
Navigant
Description: 

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.

http://www1.eere.energy.gov/wind/pdfs/offshore_wind_market_and_economic_analysis_10_2013.pdf

Publication Date: 
Thursday, October 17, 2013
Resource Type: 
Document
Multi-State:

Offshore Wind Jobs and Economic Development Impacts in the United States: Four Regional Scenarios

Source/Sponsor: 
National Renewable Energy Laboratory
Creator/Author: 
S. Tegen, D. Keyser, and F. Flores-Espino, J. Miles and D. Zammit, D. Loomis
Description: 

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.

http://energy.gov/sites/prod/files/2015/02/f19/offshore-wind-jobs-economic-development-impacts-united-states.pdf

Publication Date: 
Sunday, February 1, 2015
Resource Type: 
Document
Multi-State:

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