Maryland League of Conservation Voters Education Fund - Offshore Wind Power: Good Jobs, Clean Energy

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-Terry Cummings, Chesapeake Bay Foundation

Offshore Wind Power: Good Jobs, Clean Energy

Offshore wind power is Maryland's largest energy resource. Offshore wind power provides a stable price of energy as a hedge against volatile fossil fuels, development will create jobs for the state, utilizing the resource will reduce health hazardous and heat-trapping pollution, and greater energy independence will strengthen our national security. Finally, offshore wind power is a critical component.

SB 237: Maryland Offshore Wind Energy Act and HB 441: Maryland Offshore Wind Energy Actnt of meeting our RPS and GGRA mandates.

There are two policy mechanisms that can support offshore wind development. During the 2011 General Assembly session, we promoted a policy that would set up a process for Maryland utilities to sign long-term contracts for offshore wind generation as long as certain criteria were met. Delaware and Massachusetts have each passed long-term contract legislation that has led to contracts for offshore wind power. This policy may again be advanced in 2012, but consideration is also being given to an alternative policy: creating a carve-out for offshore wind energy or offshore renewable energy credits (ORECs). We would be supportive of the OREC model if it is independently verified that the policy proposed for MD will provide enough revenue certainty for a bank to finance a project. New Jersey passed OREC legislation in 2010 and is currently administering the process, to award credits to projects.

pdf MDOW 2012Bill-short

pdf MDOW 2012 Bill-long