Offshore wind may always enjoy something of a price premium in the northeastern US, but its levelised cost must fall to the “mid-single digits” range on a kilowatt-hour basis before the market can reach “escape velocity”, says Patrick Leahy, managing director at GE Energy Financial Services.
Given the myriad benefits offshore wind projects could bring to local economies in coastal regions, “there’s going to be some premium that’s justified”, says Leahy, whose company supplied turbines and tax equity to the Block Island project.
