New report touts Maine's potential for offshore wind

Extensive research and more than twenty interviews with stakeholders and experts in Maine have identified offshore wind as a promising economic engine and job creator, according to a new report released June 7.

“Given Maine’s research in next-generation technologies, local suppliers and expertise, and large offshore wind resource potential, the state is positioned to benefit from long-term market growth in this region,” the report states. “With mass production, electricity rates for offshore wind will decrease to approximately 7.7 cents per kWh.”

Through the offshore wind manufacturing industry, Maine can leverage its numerous strengths to take advantage of expanding opportunities, according to the report. These include the following:

Capitalizing on growing technology demand for offshore wind. The offshore wind industry is projected to grow 16% annually through 2030.
Benefiting from regional market growth. Maine has an opportunity to mobilize the offshore wind market in the Northeast, supplying expertise and products to facilitate the expected build-out of 7.5 GW of installed offshore wind capacity.
Harnessing natural resource potential. Maine has the offshore wind resources to generate about 156 GW of electricity.
Leveraging existing resources for manufacturing and production. Maine is home to concrete production, manufacturing facilities, and other assets that can be used to locally construct wind turbine components, such as floating foundations.
Mobilizing cutting-edge research and development. The state can engage its academic and research networks to capitalize on local innovations in floating foundation technology.
Supporting quality, local jobs statewide. With forward-thinking solutions, offshore wind could support 2,144 Maine jobs annually through 2030.

Read the full report here.