This report analyzes the capabilities of Marylandﾒs steel production, fabrication, and shipbuilding assets to support the commercial deployment of offshore wind generation along the Atlantic seaboard. Three scenarios based on different levels of investment are offered. Under a passive scenario, miniminal incremental sales could reach $20 million by 2025. The base scenario could bring over over $650 million by 2025 and between 3,500-5,000 jobs. An aggressive scenario could yield $1.5 billion by 2025 and between 6,000-8,500 jobs.
Jobs & Economic Development Assessment
(cost benefit assessment)
The study concluded that the Atlantic Wind Connection (AWC) project offers total benefits of $9-$15 billion, exceeding the estimated $5 billion construction cost. In particular, it would reduce system wide production costs from fossil-fuel fired generation by $1.1 billion per year with a 20-year present value of $12 billion; reduce customer locational marginal prices (LMPs) by approximately $1.6 billion per year (net of offsetting impacts on capacity market prices), with a present value of $17 billion; and, support between 130,000 and 260,000 full-time-equivalent (FTE) years of employment.
The report assesses the benefits and costs of a 288 MW offshore wind farm off the waters of New Jersey. Such an offshore wind pilot project could generate 717 GWh per year, or 1% of generational output, and reduce greenhouse gas (GHG) emissions by 430,000 metric tons. Construction costs would range from $1-1.3 billion. Tourism spending forgone or gained will affect directly only that county closest to the wind farm; the difference in forgone revenue drops significantly if project located six miles vs. three miles offshore, as well twenty miles vs. twelve miles. The total net present value (NPV) to the fishing industry of a potential wind farm's construction and operations under these scenarios would range from $154,000 to $6.6 million. There would be minimal impact on New Jersey's and the Shore's brand image but, the proposed wind farm could improve New Jersey's brand image with a holistic, credible, accountable green action plan.
The Maine Public Utilities Commission (PUC) solicits proposals for one or more long-term contracts to supply an aggregate total of no more than 30 megawatts of installed capacity and associated renewable energy and renewable energy credits (RECs) from deep-water offshore wind energy pilot projects or tidal energy demonstration projects
The report assesses the costs, challenges, and impacts in areas of technology, manufacturing and employment, transmission and grid integration, markets, siting and permitting strategies, and potential environmental effects associated with providing 20% of U.S. electricity needs through wind energy by 2030, an increase of more than 290 GW within 23 years.