Project benefits

Reducing electricity costs and CO2 emissions with offshore wind

Offshore wind power is becoming increasingly affordable, with costs falling dramatically in recent years.  In September 2017, Ørsted was awarded the contract to build the world’s largest offshore wind farm at a 58% lower cost than just six years ago, demonstrating the rapid reductions in costs for offshore wind.

We are on track to reduce costs even further. In the U.S, this will be achieved as the offshore wind industry matures and scales up, which will lower costs overtime. In addition, the anticipated technology improvements resulting in larger turbines will also lower the cost of offshore wind energy through the next decade.

See below the recent research on the cost benefits of wind power

$ 170 million annual savings

Massachusetts Clean Energy Partnership found that together, expanded hydro and wind power could save Massachusetts homes and businesses more than $170 million annually by lowering wholesale energy costs.

55% reduction in costs

The University of Delaware's Special Initiative on Offshore Wind, found economies of scale and technological improvements are set to drive the cost of offshore wind energy down by 55% in the next ten years or so.

Limitless & reliable

Wind power has no ongoing fuel costs—like other technologies have. Therefore, the price of offshore wind power will not be subject to the recent spikes seen with other power sources.

$ 170 million annual savings
55% reduction in costs
Limitless & reliable

Wind Power adds to New England's energy mix

It´s a real environmental achievement that wind power is becoming the natural, alternative for powering our lives. As a clean, renewable and cost-effective resource, our future is likely to be healthier as a result.

The reliability of wind power continues to go from strength to strength. Offshore wind farms are reliable, with average load factors of more than 50%. This compares to 26% for large-scale hydro, 23% for concentrated solar power and 11% for solar photovoltaics (E&Y, 2015). As the technology continues to evolve, and wind farms are located further from shore in more optimal wind conditions, this figure will rise.

With ever new technological advances and better turbines, reliability is only set to increase further.