Economic Impact & Financing

U.S. Offshore Wind Finance and Insurance Forum

Source/Sponsor: 
The Business Network for Offshore Wind
Creator/Author: 
The Business Network for Offshore Wind, Société Générale
pdf
Publication Date: 
Wednesday, February 27, 2019
491 KB
Resource Type: 
Document
Multi-State:

The Vineyard Wind Power Purchase Agreement: Insights for Estimating Costs of U.S. Offshore Wind Projects

Source/Sponsor: 
National Renewable Energy Laboratory (NREL)
Creator/Author: 
Philipp Beiter, Paul Spitsen, Walter Musial, and Eric Lantz
pdf
Publication Date: 
Tuesday, February 26, 2019
939 KB
Resource Type: 
Document
Multi-State:

2018 Massachusetts Offshore Wind Workforce Assessment

Source/Sponsor: 
Massachusetts Clean Energy Center
Creator/Author: 
Massachusetts Clean Energy Center
Description: 

The Massachusetts Clean Energy Center released the 2018 Massachusetts Offshore Wind Workforce Assessment, which examines the workforce needs and economic impact of the emerging offshore wind industry.

This report presents the results of a comprehensive workforce and economic analysis that estimates the labor needs and economic impacts associated with the planning, construction, and maintenance of offshore wind (OSW) energy in the Massachusetts and Rhode Island/Massachusetts Wind Energy Areas (WEAs). Informed by the experience of the OSW industry’s emergence in Europe, dozens of in-depth interviews, and a detailed economic analysis, this report is designed to provide state and regional policymakers with actionable recommendations they can use to maximize the economic benefits of the emerging OSW industry for Massachusetts, its communities, and its workforce.

pdf
Publication Date: 
Tuesday, May 1, 2018
5 MB
Resource Type: 
Document

Estimating the Value of Offshore Wind Along the United States’ Eastern Coast

Source/Sponsor: 
Lawrence Berkeley National Laboratory
Creator/Author: 
Andrew D. Mills, Dev Millstein, Seongeun Jeong, Luke Lavin, Ryan Wiser, Mark Bolinger
Description: 
A new study by Lawrence Berkeley National Laboratory (LBNL) finds that the market value of offshore wind varies significantly along the U.S. East Coast, depending on the time-varying wind resource profile at a given site, as well as local pricing and market rules within the regional power market.
 
LBNL researchers explored a hypothetical question: what would the marginal economic value of offshore wind projects on the East Coast have been between 2007-2016? The study finds that the historical market value – considering only energy, capacity, and REC value – varies by project location, and is highest for sites offshore NY, CT, RI, and MA
pdf
Publication Date: 
Tuesday, May 1, 2018
1 MB
Resource Type: 
Document
Multi-State:

New York State Offshore Wind Master Plan Released

Source/Sponsor: 
New York State Energy Research and Development Authority
Creator/Author: 
New York State Energy Research and Development Authority
Description: 

New York State Energy Research and Development Authority has coordinated on behalf of the State all the work being conducted by New York State agencies in the development of offshore wind resources. As part of its leadership role, NYSERDA spearheaded the development of the New York State Offshore Wind Master Plan, a comprehensive roadmap that encourages the development of offshore wind in a manner that is sensitive to environmental, maritime, economic, and social issues while addressing market barriers and aiming to lower costs.

pdf
Publication Date: 
Tuesday, January 30, 2018
2 MB
Resource Type: 
Document
State: 

Maine Establishes the Maine Wind Energy Advisory Commission

Source/Sponsor: 
Gov. Paul R. Lepage
Creator/Author: 
Gov. Paul R. Lepage
Description: 

Maine Gov. Paul R. Lepage has issued an order establishing the Maine Wind Energy Advisory Commission to study economic impacts of potential wind turbines, assess the economic impact of expedited wind rules and procedures, and develop recommendations in a written report. Until the report is issued in writing, no permits related to wind turbines are permitted. The order notes that "the scenic vistas and pristine waters of Western Maine, our coast and coastal islands, and our significant avian migratory pathways attract significant tourism to the State."

pdf
Publication Date: 
Wednesday, January 24, 2018
53 KB
Resource Type: 
Document
State: 

Massachusetts RFP for 400 MW of Offshore Wind Generation

Source/Sponsor: 
Massachusetts Department of Energy Resources
Creator/Author: 
Massachusetts Department of Energy Resources
Description: 
In coordination with the Massachusetts Department of Energy Resources (DOER), the state’s investor-owned electric distribution companies (Fitchburg Gas & Electric Light Co., d/b/a Unitil; Massachusetts Electric Co., d/b/a National Grid; Nantucket Electric Co., d/b/a National Grid; NSTAR Electric Co. d/b/a Eversource Energy; and Western Massachusetts Electric Co., d/b/a Eversource Energy) issued a joint RFP for 400 MW of offshore wind generation. 
 
Bids were received from Bay State Wind, Deepwater Wind, and Vineyard Wind. The bids can be viewed here.
pdf
Publication Date: 
Thursday, June 29, 2017
613 KB
Resource Type: 
Document

U.S. Jones Act Compliant Offshore Wind Turbine Installation Vessel Study

Source/Sponsor: 
NYSERDA, MassCEC, MADOER, RI Office of Energy Resources, Clean Energy States Alliance
Creator/Author: 
GustoMSC
Description: 

The U.S. Jones Act Compliant Offshore Wind Turbine Installation Vessel Study examines the functional requirements and costs of constructing purpose-built vessels that would comply with the U.S. Jones Act and meet the needs of the U.S. offshore wind industry. The Jones Act requires any vessel transporting cargo between U.S. ports, or between U.S. ports and offshore facilities, be built and flagged in the U.S. The study presents designs for two Jones Act compliant vessel options: a wind turbine installation vessel and a feeder barge. Estimating packages were sent to multiple U.S. shipyards and indicative prices of $222 million for the wind turbine installation vessel and $87 million for feeder barge were received. Using the cost data, a business model was created that showed 10-years of work, or a pipeline of approximately 3,500 to 4,000 megawatts of offshore wind capacity (roughly equivalent to the expected low regional offshore wind deployment trajectory), would provide the owner of a wind turbine installation vessel with a reasonable rate of return.

pdf
Publication Date: 
Thursday, November 2, 2017
8 MB
Resource Type: 
Document

Pages

Subscribe to RSS - Economic Impact & Financing