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