Full Title: Federal Revenue and Economic Impacts from BOEM Offshore Wind Leasing
Author(s): American Clean Power
Publisher(s): American Clean Power
Publication Date: December 9, 2021
Full Text: Download Resource
Description (excerpt):
In October 2021, BOEM announced a proposed schedule for seven new lease area auctions across the United States by 2025. These include areas in the New York Bight, Northern & Central California, Carolina Long Bay, Oregon, the Gulf of Mexico, the Gulf of Maine, and the Central Atlantic. In the first three lease areas—New York Bight, California, and Carolina Long Bay—BOEM has already progressed to the Proposed Sale Notice (PSN) phase of the leasing process within previously identified Wind Energy Areas (WEAs). This study forecasts the revenue that BOEM could expect to accrue both from the sale of the area leases and the long-term rents and operating fees paid by projects developed in those areas, which necessarily involves estimating the size of the lease areas that will go to auction in the remaining four lease areas. Economic impacts from these future projects are also calculated.