In late February 2013, CESA’s Offshore Wind Accelerator Project (OWAP) – in conjunction with the Center for American Progress, The Sierra Club, and the US Offshore Wind Collaborative – released a comprehensive analysis of the economic costs and benefits of developing offshore wind industry in the United States. On Monday, March 11, 2013, CESA and OWAP hosted a webinar briefing on the major findings from this new analysis, undertaken by the Brattle Group. The analysis finds that, based on reasonable assumptions of technology learning rates, offshore wind energy can reach grid parity with fossil fuel generation before 2030. It also finds that the investment necessary to make this happen would have only a minor impact on electricity rates and is comparable with the magnitude of support provided to other energy sources (nuclear, gas, oil, etc.) in the past. Given the inherently volatile nature of fossil fuel prices and their associated greenhouse gas and air quality costs, the analysis shows that an investment in developing the offshore wind resource in America to diversify our energy portfolio is a commitment worth making.
Read the full report here: “A Learning Investment-based Analysis of the Economic Potential for Offshore Wind: The Case of the United States.”Wind Type: Offshore Wind Author: The Brattle Group Publication Date: March 11, 2013 Topic: Economic Impact and Financing Resource Type: Report, Webinar File Type: PDF, Video Geographic Focus: National Keywords: Costs and Benefits, Economic, Finance, Grid Parity, Investment Prepared For: Center for American Progress, Clean Energy Group/Clean Energy States Alliance, Offshore Wind Accelerator Project (OWAP), The Sierra Club, The US Offshore Wind CollaborativeReturn to the NWRC Resource Library