Cost of being first in offshore wind is growing for New Jersey
New Jersey wasn’t the first East Coast state to commit to developing its major untapped clean energy resource, offshore wind power generation. But Gov. Phil Murphy and state Democrats have used their control of state government to spend whatever it takes to make New Jersey and its ratepayers the earliest adopters of offshore wind in the United States. Even though Europe’s mature offshore wind industry was capable of producing electricity at a cost competitive to natural gas powered generating plants, the early U.S. wind farms were always going to be more expensive. A North American offshore wind industry needed to be developed first. Now the bills for early adoption of offshore wind are starting to come in, and they are substantial. >click to read< 10:03
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