Study: Offshore wind may take time to go online in the U.S.

A global survey of offshore wind projects by Navigant Consulting suggests that the resource may not be competitive yet in the U.S., however, two projects could go online in 2014. The cost of offshore wind projects in Europe has increased to about $5.2 million per megawatt, compared to about $2 million per megawatt in land-based U.S. wind projects, where costs could come down, said Bruce Hamilton with Navigant Consulting. However, offshore winds are generally more powerful and consistent, allowing turbines to generate more power during peak-demand periods, the group said.

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