Study Shows Huge Economic Potential of Offshore Wind

A new study assessed the impact of potential Bureau of Ocean Energy Management lease auctions for offshore wind power through 2022, according to a Public News Service article. It includes two million acres off the New York and New Jersey coasts, and other areas off the Carolinas and California, and in the Gulf of Maine. The study, which was commissioned by four energy-industry groups, found that accelerating the development of offshore wind power would bring a significant economic boost. It could mean up to $166 billion in new investment and generate almost $2 billion in revenue for the federal government by 2022 and 80,000 jobs annually from 2025 to 2035.

offshore wind power

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