NewEnergyNews: Ocean Wind Could Be $70BIL Biz In 2030

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    Thursday, December 19, 2019

    Ocean Wind Could Be $70BIL Biz In 2030

    US has only one offshore wind energy farm, but a $70 billion market is on the way

    Bob Woods, December 13, 2019 (CNBC)

    “…[U.S.] offshore wind has the potential to generate more than 2,000 GW of capacity per year, nearly double the nation’s current electricity use…[S]tates along the Eastern Seaboard, from Maine to Virginia, are poised to join a renewable-energy revolution that will not only provide clean, green electricity but also create tens of thousands of jobs, revitalize distressed port cities and spur economic growth…[A] recent white paper from the Special Initiative for Offshore Wind that projects a $70 billion business pipeline in the U.S. by 2030…

    [D]eveloping 8,000 MW of offshore wind from Maryland to Maine by 2030 could create up to 36,000 full-time U.S. jobs…[Northern Europe now has a total installed capacity of 18,499 MW of offshore wind] across 11 countries…Costs have come down, technology has gone up, states have mandated ambitious renewable-energy goals, and the federal government has leased 15 commercial ocean sites for $472 million…[Advanced technology is] leading to larger, more efficient turbines that capture more wind…In New England there are four times as many proposals [for offshore wind projects] than those for natural gas-fired power plants…” click here for more

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