Thursday, November 29, 2018
The Frightful Cost of Virginia Offshore Wind
How do these things that taxpayers must pay for keep happening?...
Steve Goreham reported on this at WattsUpWithThat.com:
"The project, named Coastal Virginia Offshore Wind (CVOW), will be the first offshore wind project in the mid-Atlantic. Dominion Energy and Orsted A/S of Denmark will erect two 6-megawatt wind turbines supplied by Siemens Gamesa of Spain. The estimated project cost is a staggering $300 million, to be paid for in the electricity bills of Virginia businesses and households.
According to the Wind Technologies Market Report, US wind turbine market prices in 2016 were just under $1,000 per kilowatt, or about $6 million for a 6-megawatt turbine. Virginia will pay 25 times the US market price for the CVOW turbines.
The wholesale price for electricity in Virginia is about 3 cents per kilowatt-hour (kWh). This is the price received by coal, natural gas, or nuclear generating facilities. The electricity produced from the two offshore turbines will receive 78 cents per kWh, or a staggering 26 times the wholesale price."
