"Massachusetts electricity users will save about $1.4 billion over 20 years from the first commercial-scale offshore wind farm in the U.S.
Avangrid Inc. and Copenhagen Infrastructure Partners, joint developers of the 800-megawatt project south of Martha’s Vineyard, expect to provide power and renewable energy credits for 6.5 cents a kilowatt-hour according to a letter Wednesday from the state Department of Energy Resources.
That’s a levelized price in 2017 dollars over the term of the contracts, and makes the Vineyard Wind project about 18 percent cheaper than other alternatives, according to the letter. It’s also lower than the wind industry expected and shows that offshore wind can be a competitive source of clean energy as costs continue to come down.
“That’s pretty shocking for us,” said Tom Harries,"
Jim Efstathiou Jr reports for Bloomberg August 1, 2018.
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