Overview of 2011 study of renewable energy and energy efficiency portfolio standard (REPS), which concluded that offshore wind is one of North Carolina's most plentiful renewable resources, but also one of the most costly (39,000 MW technical potential; 14,000 MW practical potential; nearly $200/MWh levelized cost in 2011).
The report examines feasibility, siting constraints and development costs (for foundations and grid interconnection) of offshore North Carolina renewable energy facilities. Five regions offshore of North Carolina are considered: Hatteras Bay, Raleigh Bay, Onslow Bay, Long Bay, and Pamlico Sound.
The report examined the capacity for renewable energy in Virginia to provide 9,724 MW of electricity by 2035 (half the additional capacity needed under the 2010 Virginia Energy Plan to meet forecasted demand) and quantified the potential resulting economic benefits. Offshore wind contributed 10% of the overall total in Scenario 1, and 33% in Scenario 2. The economic gains from investments in all renewable energy sources ranged from $13 billion to $20.8 billion (Gross State Product), significantly higher than gains from coal and natural gas. The construction costs for renewables would be higher, operating costs would be comparable among all the different sources, but the higher investment required for renewables would create the most significant economic gains. Total job creation varied from 108,000 to 172,000.
The report summarizes how AWS Truepower developed wind power generation profiles and power forecasts within the PJM Interconnection region. A total of 3,486 sites totaling 69.70 GW of offshore wind capacity were identified among Atlantic states. Composite power curves were simulated for each site based on industry standard turbine specifications.
Overview of background of the Virginia Coastal Energy Research Consortium (VCREC); mid-Atlantic region's offshore wind potential; advantages of Hampton Roads area; and, offshore wind's economic development potential.
Overview of the environmental and economic drivers of offshore wind energy development, and Virginia's offshore wind potential and estimated project costs.
Overview of North Carolina offshore wind resource potential, technology status, and economic impacts.
The presentation offers an assessment of market opportunities for renewable energy in New Jersey. Offshore wind power was cited as a relatively high risk option with the greatest potential for in-state renewable energy development. The presentation recommends predevelopment grants to help with the permitting process and financial options other than direct subsidies (e.g. debt guarantees, subordinate debt). Offshore wind' s theoretical potential is estimated to be 24,500 MW by 2020, and its technical potential is 2,500 MW by 2020.
The report investigates the feasibility of utility-scale wind energy development in the waters offshore of New Jersey. The report found that offshore wind could produce approximately 3,000 MWh/yr for each installed MW of facility. Power densities of approximately 20 MW per square mile could be harvested while occupying less than 0.01% of the seabed within a project area. The study area encompasses 2,465 square nautical miles and extends up to 20 miles from shore. The cost of offshore wind energy modeled within the study area was found to be at the high end or above market price. Declining capital cost and other factors are expected to improve this situation over time. The existing transmission system along the coastline has sufficient capacity to accept significant amounts of new wind-based generation with the amount of this capacity dependent on the locations where wind projects are interconnected. Several major ports exist within or near the study area that are suitable to support the shipping, installation or O&M requirements of an offshore wind project, including the Port of New York and New Jersey, Atlantic City, and industrial ports accessible via the Delaware Bay and Delaware River in New Jersey, Delaware, and Pennsylvania.
The report assesses the potential penetration of offshore wind in the United States through the use of the Wind Deployment System (WindDS) model under different technology development, cost, and policy scenarios.