Developing New England's offshore wind power will lower electric bills and limit the region's exposure to natural gas price swings, according to a new report from the Sierra Club.
The analysis, released Tuesday, suggests that building nine gigawatts of offshore wind by 2030 could halve New England's spending on natural gas to produce electricity. Ratepayers could save up to $55 a year with new wind power which would also eliminate huge amounts of greenhouse gas emissions.
Wind resources provide better long-term investment than new gas infrastructure, and curb regional reliance on volatile natural gas markets, Sierra Club's Josh Berman said.
"I think offshore wind is an attractive alternative to some of the very expensive and obviously climate unfriendly investments that some of the New England states have considered," Berman said.
Analysts based the report on offshore wind targets from Massachusetts, Connecticut and Rhode Island. Advocates commissioned the report to counter criticism that wind power is too expensive amid the industry's recent financial and supply challenges.
