The expansion of the offshore wind industry in the region has meant more competition, and more competition means lower costs. Emily Lewis, a policy analyst at the Acadia Center, said there’s a common misconception that offshore wind is more expensive than other forms of energy, when it’s actually quite cost competitive.
“The contracts that utilities entering with offshore wind companies are longer term,” she says. “Through that, they’re getting lower prices.”
The data is minimal right now, but her suspicion seems to be right. The price for the Block Island Wind Project was $0.244 per kWh, while the price for in-progress projects in Maryland is $0.132 per kWh.
Read the full article from Energy News here.