Dominion Energy executives see a bright future for wind development off the coast of Virginia, but cost reductions are necessary for a 2GW or larger project it envisions to make economic sense.
The Richmond-based utility holding company estimates this will require project life cycle cost equivalent to decrease to around $80/MWh versus $85/MWh and “potentially higher” in the New England market where most of the country’s initial commercial-scale development will occur, according to Paul Koonce, chief executive of the Power Generation Group at Dominion.
