economic impact

Offshore Wind in the Atlantic- Growing Momentum for Jobs, Energy Independence, Clean Air, and Wildlife Protection

Source/Sponsor: 
National Wildlife Federation (NWF)
Creator/Author: 
National Wildlife Federation (NWF)
Description: 

The report summarizes the environmental and economic benefits of Atlantic Coast offshore wind energy development. It offers recommendations for overcoming cost and siting obstacles, as well as state-by-state summaries of ongoing projects.

pdf
Publication Date: 
Wednesday, December 1, 2010
7 MB
Resource Type: 
Document

Offshore Wind Energy: How Much Will It Cost, Can it Cost?

Source/Sponsor: 
Virginia Coastal Energy Research Consortium (VCERC)
Creator/Author: 
Virginia Coastal Energy Research Consortium (VCERC)
Description: 

Compares Virginia Coastal Energy Research Consortium (VCERC) modeled capital costs of offshore wind development with data from European projects and a National Academies of Sciences study.

pdf
Publication Date: 
Wednesday, June 22, 2011
703 KB
Resource Type: 
Presentation
State: 

Maryland's Plan to Reduce Greenhouse Gas (GHG) Emissions- Appendix E. Economic Impact Analysis

Source/Sponsor: 
Maryland Department of the Environment (MDE)
Creator/Author: 
Towson University, Regional Economic Studies Institute (RESI)
Description: 

Appendix E summarizes the results of the modelling of total economic impacts of offshore wind energy development in two phases: an investment phase and an operation phase. An investment of $1 million dollars would generate less than 8 jobs, $1.6 million in output, and $0.5 million in wages on average. But once operational, offshore wind would support annually a total of 48 jobs, $8.3 million in output, and $3.6 million in wages. The total state and local tax revenues would amount to approximately $97,953 on average per $1 million for the investment phase, and an annual total of $424,731 for the operation phase.

pdf
Publication Date: 
Saturday, December 31, 2011
7 MB
Resource Type: 
Document
State: 

Maryland's Plan to Reduce Greenhouse Gas (GHG) Emissions

Source/Sponsor: 
Governor Martin O'Malley; Maryland Legislature
Creator/Author: 
Maryland Department of the Environment (MDE)
Description: 

The draft Greenhouse Gas Emissions Reductions Act plan comprises 65 strategies that are expected to reduce statewide greenhouse gas (GHG) emissions 25% from a 2006 baseline by 2020 to avoid the most severe impacts of climate change and contribute to the growth of green jobs and economic recovery. The identified offshore wind initiative is expected to generate annually 48.2 jobs, $8.3 million in output, and $3.6 million in wages (in its operational phase).

pdf
Publication Date: 
Saturday, December 31, 2011
12 MB
Resource Type: 
Document
State: 

Maryland Offshore Wind Energy Act of 2012 (Senate Bill 237)

Source/Sponsor: 
Maryland Legislature
Creator/Author: 
Maryland Legislature
Description: 

The proposed Maryland Offshore Wind Energy Act of 2012 would incentivize the development of offshore wind capacity by creating a carve-out in the stateメs renewable energy portfolio standard (RPS), to be set by the Public Service Commission (PSC), not to exceed 2.5%, between 2017-2022. To qualify, offshore wind projects would have to demonstrate positive net benefits to the state (including in-state jobs, health benefits, and electric rates), be located in federal waters off the coast of Maryland, and be priced below statutory safeguards for ratepayers.

pdf
Publication Date: 
Tuesday, January 24, 2012
232 KB
Resource Type: 
Document
State: 

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

Source/Sponsor: 
US Department of Energy (DOE)
Creator/Author: 
US Department of Energy (DOE), National Renewable Energy Laboratory (NREL); Energetics Incorporated
Description: 

The report provides an overview of offshore wind energy resources in the United States, status and trends in offshore wind energy technology, offshore wind economics, federal and state regulatory pathways for offshore wind facility siting and permitting, environmental and socioeconomic risks of offshore wind projects, and environmental and economic opportunities of large-scale offshore wind deployment.

pdf
Publication Date: 
Wednesday, September 22, 2010
7 MB
Resource Type: 
Document

Final Report Under Senate Bill 400: Options for Re-Regulation and New Generation

Source/Sponsor: 
Maryland Public Service Commission (PSC)
Creator/Author: 
Maryland Public Service Commission (PSC)
Description: 

Overview of the Public Service Commission's (PSC) final report's findings on whether and how Maryland might "re-regulate" its electricity markets. It includes graphs used in modeling the economic benefits and costs of offshore wind.

pdf
Publication Date: 
Tuesday, December 16, 2008
227 KB
Resource Type: 
Presentation
State: 

Final Report of the Public Service Commission (PSC) of Maryland to the Maryland General Assembly- Options for Re-Regulation and New Generation

Source/Sponsor: 
Maryland Legislature
Creator/Author: 
Maryland Public Service Commission (PSC)
Description: 

This final report studies whether and how Maryland might モre-regulateヤ its electricity markets. As part of its inquiry, the Public Service Commission (PSC) analyzed options for new electricity generation. The Commission concluded that offshore wind, while using a more reliable wind source than onshore wind and producing greater carbon dioxide reductions (747,000 to 975,000 tons per year, as compared to the full-year Regional Greenhouse Gas Initiative (RGGI) target for 2015 of 937,600), is roughly twice as expensive to build and operate and is thus projected to result in economic loss to ratepayers, not a net benefit. The Commission relied on Levitan & Associates' modeling of the terms of the NRG BlueWater Wind contract in Delaware.

pdf
Publication Date: 
Wednesday, December 10, 2008
399 KB
Resource Type: 
Document
State: 

Executive Order No. 96- Offshore Wind Economic Development Task Force

Source/Sponsor: 
Governor Beverly Perdue
Creator/Author: 
Governor Beverly Perdue
Description: 

The Order establishes an Offshore Wind Economic Development Task Force to report on the economic costs and benefits of developing 5,000 MW of offshore wind energy by 2030.

pdf
Publication Date: 
Wednesday, June 30, 2010
117 KB
Resource Type: 
Document

Evaluating the Economics of Offshore Wind Projects: Evaluation of the Application by Fishermen's Energy (FERN) Atlantic City Windfarm, LLC

Source/Sponsor: 
New Jersey Board of Public Utilities (BPU)
Creator/Author: 
Boston Pacific Company; OutSmart BV
Description: 

The Board of Public Utilities's (BPU) consultants state that the net benefits of the project were not demonstrated because key underlying assumptions of Fishermen Energyメs (FERN) cost-benefit analysis were not adequately substantiated. The project has significant technical risks that may impair its ability to perform as promised; risks involve primarily the use of wind turbines that are not fully commercialized, and a foundation concept that has not been used before for offshore wind turbines. While securing financing from XEMC is a positive achievement, XEMCメs financial strength was not demonstrated because its financial statements donメt meet U.S. accounting standards. Finally, key management staff at Fishermen's Energy do not demonstrate signficant offshore wind experience.

pdf
Publication Date: 
Wednesday, February 22, 2012
308 KB
Resource Type: 
Document
State: 

Pages

Subscribe to RSS - economic impact