The Market Value of Offshore Wind on the U.S. East Coast

A new study by Lawrence Berkeley National Laboratory (LBNL) finds that the market value of offshore wind varies significantly along the U.S. East Coast, depending on the time-varying wind resource profile at a given site, as well as local pricing and market rules within the regional power market.

LBNL researchers explored a hypothetical question: what would the marginal economic value of offshore wind projects on the East Coast have been between 2007-2016? The study finds that the historical market value – considering only energy, capacity, and REC value – varies by project location, and is highest for sites offshore NY, CT, RI, and MA.

In this webinar, report authors discussed the study’s analytical approach and findings. Presenters also discussed how the various value components might change in the future and ways to potentially enhance the value of offshore wind. This presentation was followed by a Q&A with the audience.

Presenters:

• Ryan Wiser, LBNL
• Andrew Mills, LBNL
• Val Stori, Clean Energy Group (moderator)

This webinar is presented by Clean Energy Group for the Northeast Wind Resource Center.