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offshore wind

What Interior’s Lease Auction Says about Offshore Wind Innovation

The Department of Interior (DOI) announced this week the first-ever competitive offshore wind auction. Many policymakers and advocates are hailing it as a milestone moment: the auction offers leases for almost 165,000 acres of ocean off the coast of Rhode Island and Massachusetts, which if fully-developed, could power one million homes using clean wind power. While these short-term impacts are important, they’re still small compared to the overall clean energy needs of the United States (and the world). DOI’s auction is a much more important long-term step in support of offshore wind innovation.

Without a doubt, the opportunity is ripe for offshore wind technologies to generate low-carbon electricity. Seventy-eight percent of U.S. electricity demand comes from 28 coastal and Great Lake states, which geographically correspond well to high-speed offshore wind patterns. Many of these states pay higher average electricity costs than the rest of the country, providing an opening for low-cost, low-carbon energy alternatives (price data found here, page 7). But offshore wind has a big problem: it’s not cost-competitive with other sources of electricity.

The federal government, partnered with coastal states, recognizes this challenge and is implementing a 

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