America’s growing offshore wind power industry —now projected to generate 18.6 GW of clean, cost-effective power in seven states on the Atlantic Seaboard by 2030—is presenting a nearly $70 billion CAPEX revenue opportunity to businesses in the offshore wind power supply chain over the course of the next decade. In this white paper, the Special Initiative on Offshore Wind (SIOW)quantifies the extensive supply chain business opportunities this $70 billion CAPEX is creating to build out the U.S. offshore wind sector between now and 2030, with quantification broken down by industry component, by state, and by year through 2030.
This study models the cost of electricity from 2,000 MW of offshore wind energy, deployed off the coast of Massachusetts throughout the period 2020-2030. We find that costs will be far lower than previously contracted prices for offshore wind in the New England region and that costs will continuously lower throughout a build-out during the decade, due to ongoing technology and industry advances and the effects of making a Massachusetts market visible to the industry.
Full Report: Massachusetts Offshore Wind Future Cost Study