NJ Aims to Lead in Offshore Wind Energy
New Jersey’s new Offshore Wind Economic Development Act directs the state’s Board of Public Utilities (BPU) to establish an offshore renewable energy certificate program that calls for a percentage of electricity sold in the state to be from offshore wind energy. The act would support the development of at least 1,100 megawatts of offshore wind energy capacity.
The bill was signed into law this week by Gov. Chris Christie at a former BP port facility that will be transformed into a regional hub for the offshore wind industry.
“Developing New Jersey’s renewable energy resources and industry is critical to our state’s manufacturing and technology future,” Christie said.
The package will offer incentives including financial aid and tax credits to attract wind energy developers to the state’s waters. Two offshore wind development companies, Fishermen’s Energy and Deepwater Wind, already have plans to develop offshore wind energy off the coast of New Jersey.
A report released last year by the Interior Department said shallow-water offshore wind farms could supply as much as 20 percent of the electricity in most coastal states.
You might like:
- Business Facilities’ 11th Annual Rankings Report: Metro and Global Rankings
- Business Facilities’ 2015 Metro Rankings Report: Austin, Nashville, Raleigh Are Metro Frontrunners
- Business Facilities’ 2015 Metro Rankings Report: Indiana Metros Are Exports Leaders
- Business Facilities’ 2015 Global Rankings Report: China Leads In Renewable Energy Investment
- Eli Lilly and Company To Expand Indianapolis R&D Headquarters
- Business Report: Tennessee – DENSO Manufacturing Expanding in Maryville, TN
- Business Report – North Carolina: Growing Innovation Throughout The Tarheel State
- Business Report – California: Largest Solar Facility On Earth Goes Operational
- Alcoa Expands R&D Center Near Pittsburgh
- U.S. Innovation Hubs: Inventing the Future
- Logistics Networks Are Getting Back On Track
- Panama Canal: Bigger, Better and Ready to Rumble
- Bell Inc. To Invest $30M In Ohio Carton Manufacturing Facility
- Business Facilities LiveXchange 2016 Registration Now Open
- The Tree Pods are Coming
Topic Tags: NJ