What are the economics and environmental issues?
Although offshore wind takes time to develop properly (siting and environmental studies, engineering, underwater civil construction and other tasks are time-consuming) and up-front costs are high, the ongoing costs after construction is finished are low and – just as important – the ongoing costs are relatively stable. Current electricity prices are driven up or down with the volatility and upward trend of international fossil fuel prices, whereas most of the costs of offshore wind – once a facility is built — are fixed. As a domestic source of energy, wind is not directly impacted by foreign relations or regional turmoil and is less prone to the disruptions and political considerations that can lead to price shocks. Offshore wind is a zero-emission technology. When a project is properly implemented, emissions resulting from construction, operation, and maintenance are substantially less than conventional power plants.
