Mayflower Wind Announces Lower Energy Costs

Image: PixabayImage: Pixabay
Thanks to the expansion of the ITC the costs for offshore wind power generated in the planned wind farm Mayflower Wind will drop even further

Official Press Release Mayflower Wind:

Mayflower wind “low cost energy” price anticipated to go even lower due to unique commitment to pass cost savings of federal tax credits to customers

Mayflower Wind, the developer of an offshore wind project located over 30 miles south of Martha’s Vineyard and 20 miles south of Nantucket, today announced that the cost of power to customers from the 804 megawatts (MWs) of offshore wind power covered by their “Low Cost Energy” bid is on track to drop even further.

This price reduction likely means that the customers of three Massachusetts electric utilities can expect to save over $25 million each year, resulting in a half a billion dollars in lower electric bills over the life of the 20-year contracts due to recent changes in federal law. The savings would come from the newly increased and extended federal Offshore Wind Energy Investment Tax Credit in the recently enacted federal legislation that brought together... ... More: Official Press Release Mayflower Wind

Mayflower Wind, developer, wind farm, offshore, MW, USA, Marthas Vineyard, energy costs, bill, energy, ITC, expansion, taxes

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