Maryland Offshore Wind

EDR Group (now EBP) provided one of the last stages of a public agency analysis in a multi-year feasibility study of offshore wind deployment scenarios off the Atlantic Coast. 

EDR Group developed the macroeconomic impact assessment (jobs and gross state product impacts) using a macroeconomic impact forecasting model of a state’s economy. A default scenario was examined for achieving a mega-watt target of installed capacity by 2025 and considering a range of “capacity cost” conditions, which influences the ultimate price of wind-generated electricity to customers. A limited supply-chain scenario was also examined for increasing potential economic gains. The assessment considered impacts from short-term installation activities, and effects from longer-term events such as O&M spending for the wind farms, changes in electricity pricing due to a premium on wind generation, wholesale price suppression effects, RPS compliance payments, and diverting future investment related to (non-renewable) capacity additions that would have otherwise occurred. 

EDR Group assisted a private developer of offshore wind (and other energy facilities) projects in fulfilling application requirements for a bid to develop a wind farm off the Atlantic Coast. EDR Group provided an analysis and documentation of the in-state “benefits” associated with a multi-year construction phase (including preliminary planning/scoping), and multi-year operations phase for both the term of the OREC (off-shore wind renewable energy credit) contract as well as the useful life of the project’s turbine fleet. Key points of emphasis on the bid application concern the percent of budgets that are fulfilled by in-state businesses, job creation, wage quality of the jobs created across various sectors, and new sales for in-state firms across various sectors.