Deepwater CEO says wind power prices will drop
Deepwater Wind’s proposal to build a small demonstration wind farm off Block Island is currently tied up the Rhode Island Supreme Court. But CEO Bill Moore, speaking at a Reuters conference in Boston yesterday, remains optimistic that the price of offshore wind will come down in the coming years:
“Prices are coming down,” said Bill Moore, the chief executive officer of Deepwater Wind, which plans to build a small installation of five to eight turbines off Block Island, as well as larger projects further off Rhode Island and off New Jersey.
“If you look back over the 20 years that commercial wind has been built onshore, over that time we saw declines in pricing that were on the order of 60 to 80 percent and I think over a similar period we’ll probably see declines in our pricing of a similar amount,” Moore said. “It just has to do with scaling up the industry.” …
