Report: Wind Projects Could Save New Englanders $630 Million Annually

Plans for several offshore wind projects by Massachusetts, Rhode Island, and Connecticut could save New Englanders up to $630 million annually in a mid-range gas price scenario, according to a new report by Synapse Energy Economics on behalf of the Sierra Club and released this week.

The projected savings generated by 9,000 MW of offshore wind by 2030 could reach $1.7 billion annually in a high gas price scenario, the report notes. This translates to reduced customer bills of $2.79/month for an average residential customer under mid-case future natural gas prices, and $4.61/month under a high gas price scenario, or $33.48 to $55.32 annually.

Additionally, the planned wind deployments would reduce ISO New England’s carbon dioxide emissions from electricity generation by

14 million short tons annually. This equates to a 42% reduction in annual CO2 from the grid.

The report also finds that planned offshore wind in the region would:

• Provide $362 million in annual public health benefits by avoiding 3,700 short tons of NOX emissions, 824 tons of SO2 emissions, and 641 tons of PM2.5 emissions each year
• Improve energy security by reducing the region’s reliance on natural gas pipelines. During winter cold snaps these pipelines often reach their maximum capacities. Adding more offshore wind would ease pressure on these pipelines.

“Offshore wind is New England’s greatest shot at curbing the impacts of the climate crisis and getting our communities off the gas roller coaster for good,” said Sierra Club Northeast Deputy Regional Field Director Andrea Callan. “For healthier communities and lower energy bills, decision makers must dedicate themselves to the increased development of offshore wind in the region and make 9GWs by 2030 a reality. This summer, Massachusetts, Connecticut and Rhode Island together must seize the opportunity before them to green light projects that will put us well on our way to achieving that goal.”

The full report, Charting the Wind: Quantifying the Ratepayer, Climate, and Public Health Benefits of Offshore Wind in New England, is available here.

_{Source:  Sierra Club}

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