U.S. Offshore Wind Finance: ADVANCING INVESTMENT IN OFFSHORE WIND – A Business Network White Paper
The Business Network for Offshore Wind works to support the development and growth of the U.S. offshore wind supply chain. The Network reacts to existing offshore wind projects’ challenges and preempts potential bottlenecks or risks that could threaten or delay the development of the offshore wind industry supply chain. The U.S. now has a growing pipeline of deployable offshore wind projects totaling 5-8GW, and the U.S. has scale in its demand to replace old power generation with new clean forms of electricity. The U.S. is poised to accelerate its nascent offshore wind sector to become a major national industry.
The U.S. has many advantages: the technology is proven and already exists; the market size is inherent to produce economies of scale; and offshore wind policies are emerging, both federal and some state. The building blocks are in place but finance is the important ‘mortar’ needed to build this industry. For this reason, in April 2018, the Network in partnership with Société Générale, assembled offshore wind experts to start taking a deeper look at the needs of the finance industry in order to learn if the case for investment into the U.S. offshore wind sector could be improved, and if so, how. Read the white paper
Policy Paper: Offshore Wind for New Jersey
Offshore wind is right for New Jersey. The state needs a robust mix of energy resources to power New Jersey’s future. Offshore shore wind is a large, clean, reliable and cost-effective resource that we can develop right here. New Jersey is blessed with a strong and constant offshore wind resource and shallow water depths, making it an ideal location for the siting of offshore wind generation. Moreover, offshore wind presents the opportunity to generate and deliver clean and renewable energy close to the state’s major load centers, without reliance on costly and controversial overland transmission. Read more>>
Grid & Transmission White Paper
We commend Governor Baker, Massachusetts legislators, and other policy makers for their support of offshore wind energy in the state. This brief white paper is focused on the opportunity to lower offshore wind costs to ratepayers through smart planning, construction and operation of offshore wind transmission interconnection facilities. Our working group concluded that a holistic approach to transmission will deliver offshore wind at a lower cost and benefit ratepayers with synergies that will make the grid stronger and more resilient. Read more>>