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Next Offshore Wind in U.S. Can Compete With Gas, Developer Says

  • Giant turbines make more electricity, cut costs by half
  • Price for offshore wind farm ‘going to be a real eye-opener’
Bloomberg business news
The Way Humans Get Electricity Is About to Change Forever

Massive offshore wind turbines keep getting bigger, and that’s helping make the power cheaper -- to the point where developers say new projects in U.S. waters can compete with natural gas.

The price “is going to be a real eye-opener,” said Bryan Martin, chairman of Deepwater Wind LLC, which won an auction in May to build a 400-megawatt wind farm southeast of Rhode Island.