Jobs & Economic Development Assessment

(cost benefit assessment)

Maryland's Plan to Reduce Greenhouse Gas (GHG) Emissions- Appendix C. Maryland Climate Policies

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

Appendix C includes a summary of the development of Maryland's Coastal Atlas for marine spatial planning, and the formation and activities of the federal-state Renewable Energy Task Force in offering siting recommendations.

pdf
Publication Date: 
Saturday, December 31, 2011
5 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: 

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: 

Economic Impact Assessment Long Island-New York City Offshore Wind Project

Source/Sponsor: 
New York Power Authority (NYPA)
Creator/Author: 
AWS Truepower, Inc.; Camoin Associates, Inc.
Description: 

The study determined that the total economic impact of the phased project would be approximately:
- 350 MW Project: $1 billion in sales, 8,700 job-years and $610 million in wages (in present-year dollars).
- 700 MW Project: $3 billion in sales, 17,000 job-years and $1 billion in wages. A preliminary evaluation of port facilities found that the Howland Hook Marine Terminal, located on Staten Island, is expected to be the most viable New York State option to host the project's construction-related onshore activities.

pdf
Publication Date: 
Monday, November 1, 2010
519 KB
Resource Type: 
Document
State: 

Economic Impact Analysis of the Cape Wind Offshore Renewable Energy Project

Source/Sponsor: 
Cape Wind Associates, LLC
Creator/Author: 
Global Insight
Description: 

The report estimated the economic and fiscal impacts that would occur statewide and in Barnstable County and statewide during the manufacturing/assembly (M/A) and construction/installation (C/I) and operation phases of the Cape Wind project. Positive economic and fiscal impacts during the M/A and C/I phase include: creation of between 597- 1,013 direct, indirect, and induced jobs; increase in labor income of between $32-$52 million annually; increase in property income of between $9.2-$14.8 million annually; and, increase in corporate income tax revenues of between $1.3-$2.1 million annually. Positive economic and fiscal impacts during the operation phase include: annual permanent employment increase of 154 jobs; annual labor income increase of $6.9 million; personal income tax revenue increase of $346,500 annually; corporate income tax revenue increase of $113,900 annually; and, annual property tax revenue increase of $279,678.

pdf
Publication Date: 
Wednesday, April 2, 2003
76 KB
Resource Type: 
Document

Benefiting North Carolina Communities with Offshore Wind Farms

Source/Sponsor: 
Renewable Energy Policy Project (REPP)
Creator/Author: 
Renewable Energy Policy Project (REPP)
Description: 

Summary of the direct and indirect economic development impacts of offshore wind energy.

pdf
Publication Date: 
Monday, December 15, 2003
14 KB
Resource Type: 
Document

Analysis of the Impact of Cape Wind on New England Energy Prices

Source/Sponsor: 
Cape Wind Associates, LLC
Creator/Author: 
Charles River Associates (CRA)
Description: 

The study projected wholesale power prices over the period 2013-2037, for scenarios with and without Cape Wind in service, and quantified the expected reduction in wholesale power prices and wholesale electricity costs that would result from the power supplied by the project. The study found that adding Cape Wind would lead to a reduction in the wholesale cost of power averaging $185 million annually over the 2013-2037 time period, resulting in an aggregate savings of $4.6 billion over 25 years. With Cape Wind in service, the study projects that the price of power in the New England wholesale market would be $1.22/MWh lower on average.

pdf
Publication Date: 
Monday, February 8, 2010
98 KB
Resource Type: 
Document

Analysis of Resource and Policy Options for Maryland's Energy Future

Source/Sponsor: 
Maryland Public Service Commission (PSC)
Creator/Author: 
Levitan & Associates, Inc.
Description: 

The report evaluates the merit of several short- and long-term initiatives for Maryland's energy resource future. The reference case involves the least-cost addition of a gas turbine peaking plant and/or new gas-fired combined-cycle plant. Using the NRG BlueWater offshore Delaware project as a proxy for the economic benefits associated with offshore wind, the report concludes that the high cost of building and operating offshore wind is unfavorable, particularly in relation to onshore wind projects in Maryland or elsewhere in the PJM region. Marylandメs investor-owned utilities' share of the total direct project costs would amount to $1.3 billion, about 60% of the total project costs. Project benefits amount to $1.04 billion. The project's economic value-added (EVA) is negative $198 million.

pdf
Publication Date: 
Monday, December 1, 2008
2 MB
Resource Type: 
Document
State: 

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