Such cost reduction, driven by market forces, will put offshore wind on a clear path to deliver clean power at competitive prices for millions of ratepayers in the Boston area and beyond, according to the study done by the University of Delaware’s offshore wind research arm.
The study's key finding is that developing offshore wind at scale rather than on a project-by-project basis will lead to costs "far lower than previously contracted prices” for the 468MW Cape Wind and 30MW Block Island project off the coasts of Massachusetts and Rhode Island.
Cape
