We should be outraged over the billions of tax dollars of energy subsidies that Congress doles out to mature polluting industries, not over the modest support it gives to renewable power.
-- Frank Gorke, Energy Advocate, MASSPIRG
-> Cape Wind and Economics
|· How many jobs will Cape Wind create in the region?|
In the assembly, staging and ocean construction stage of the project, Cape Wind will create 600 to 1,000 jobs. Once operating, Cape Wind will create 150 permanent jobs, with at least 50 based on Cape Cod. Cape Wind will also create spinoff jobs on Cape Cod and the region. Hy-Line Cruises will be the official Eco-Tour provider and they will commission a vessel for that purpose. Hy-Line Cruises will also be working with Cape Wind to build a Cape Wind Visitors Center on their property overlooking Hyannis Harbor. Because of Cape Wind an offshore wind power 'cluster' is forming with Siemens Wind Power, E2 Engineering, Sgurr Energy and Global Marine Energy all opening offices in Massachusetts. Meanwhile, the historic City of New Bedford, working closely with the Commonwealth of Massachusetts, is planning to build a multi-purpose Marine Commerce Terminal that will be the first facility of its kind on North America specifically designed for the staging and assembly of offshore wind turbines.Back to top
|· How will Cape Wind reduce New Englandís dependence on imported energy sources?|
Cape Windís supply of wind power will reduce the amount of electricity coming from more expensive fossil fuel power plants in New England. This will reduce the amount of fossil fuels being imported into, and burned, in New England. New England does not produce any of its own coal, oil or natural gas, as these fuels are all imported into New England from other regions of the US, or increasingly, from other countries.Back to top
|· How much fossil fuel burning will Cape Wind reduce?|
Cape Wind will reduce the consumption of a combination of fossil fuels used for electricity generation in New England. While it is not possible to know in advance the exact combination of these fuels that Cape Wind will reduce, Cape Wind will provide a quantity of wind generated electricity annually equivalent to the amount of electricity that would be produced from burning 570,000 tons of coal, or 113 million gallons of oil, or 10 billion cubic feet of natural gas.Back to top
|· How would Cape Wind impact electricity prices?|
Cape Wind will help to stabilize and even reduce the price of electricity. Cape Wind will do this in 3 ways:Back to top
1) Cape Wind will reduce the clearing price for electricity in the New England spot market by reducing operations of the regions most expensive power plants, providing more than $4 Billion dollars in savings to the New England wholesale electric market over the 25-year operating life of the project, according to a 2010 study by Charles River Associates.
2) Cape Wind will reduce the implementation costs of the Renewable Portfolio Standard to Massachusetts electricity consumers by increasing the supply of renewable energy certificates.
3) Cape Wind is selling its power in Long Term Power Purchase Agreements of 15 years in length, providing electricity consumers with far greater electric price stability and price certainty than is typically available.