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[vc_row][vc_column][vc_column_text]By: Cameron Flinn

As the costs for building renewable energy resources such as wind and solar continue to drop, the viability of a carbon-neutral society becomes more realistic for future generations. Technological improvements continue to create economies of scale, allowing renewable energy to become cheaper to build compared to fossil fuels.[1] Many states along the east coast have set goals to become carbon neutral within the next 20 years, fueling new and exciting renewable energy projects.

Park City Wind Project

Park City Wind is an 804 MW project projected to go live to the grid in 2025. The project is being led by Massachusetts based company, Vineyard Wind, along with Avangrid Renewables and Copenhagen Infrastructure Partners. The project is permitted to be built in lease area OCS-A 0501, about 23 miles off the coast of Massachusetts on the outer continental shelf.[2] With Bridgeport Connecticut selected as the project’s headquarters, Vineyard Wind seeks to revitalize Bridgeport’s harbor and establish it as a hub for future wind power projects.

Benefits of Wind Power

This project is a great step forward for the future of wind-powered energy projects. Park City Wind will serve as a reliable source of fixed price, low cost, renewable energy.[3] This will help decrease the volatility in the ever-changing energy markets. Eversource Energy and United Illuminating Co. have already filed the largest purchasing agreement for offshore wind power in Connecticut’s history. The agreement will lock in purchasing rates for the next 20 years and more than double the amount of carbon-neutral energy on Connecticut’s grid.[4] State regulators have estimated that Park City Wind could provide the equivalent of 14 percent of the state’s electricity supply upon its completion in 2025. This new source of electricity generation will be a great help to companies as they try to achieve their sustainability goals and work their way to becoming carbon neutral.

What This Means for The Future

Connecticut’s Bridgeport Harbor will become a future hub for wind projects across the northeast. The harbor’s current development to support the Park City Wind project will install all the infrastructure necessary to serve future wind projects.[5] Since many harbors along the east coast are unsuitable to launch wind projects, Bridgeport and its economy will experience great benefits from becoming a launching pad for future wind projects. States from Virginia up to Maine are all making investments in wind projects, which will grow the United States wind industry and help reduce overall carbon emissions.

Click here, to read more about the Park City Wind Project.[/vc_column_text][vc_cta h2=”Interested in driving your sustainability goals through alternative energy sources?”]Contact the EEP team today for a no-obligation discovery call. [/vc_cta][vc_column_text css=”.vc_custom_1594303433551{margin-bottom: 0px !important;border-bottom-width: 0px !important;padding-bottom: 0px !important;}”]Cameron Flinn is a summer intern at Evolution Energy Partners. He is a rising senior at the University of Richmond studying business administration with concentrations in economics and environmental studies.

 

[1] https://evolutionep.com/efficient-energy-management/solar-and-wind-costs-hit-a-tipping-point/#_ftn1
[2] https://ctexaminer.com/2020/06/20/as-offshore-wind-projects-pile-up-glimmers-of-progress-on-the-state-and-federal-level/
[3] https://www.parkcitywind.com/project-overview
[4] https://www.journalinquirer.com/business/utilities-agree-to-buy-wind-power-project-could-provide-14-of-state-s-electricity/article_ab856c2c-a423-11ea-8117-8fd89f95922c.html
[5] https://ctexaminer.com/2020/06/20/as-offshore-wind-projects-pile-up-glimmers-of-progress-on-the-state-and-federal-level/[/vc_column_text][/vc_column][/vc_row]