The utility National Guard has actually entered into an agreement with Cape Wind, and is buying 20.7 cents per kilowatt hour beginning in 2013. Cape Wind is going to make money, so they can definitely save more in the future.
The Cape Wind Project is an approved offshore wind farm on Horseshoe Shoal in Nantucket Sound off Cape Cod. It will become the first offshore wind energy project in United States coastal waters. The Cape Wind Project would directly offset petroleum combustion since 45% of the Cape’s region’s electricity comes from the nearby Canal Power Plant in Sandwich, which burns bunker oil and natural gas. More than 90,000 megawatts of electricity could be extracted from offshore winds in the United States coastal waters less than 100 feet deep. It is estimated that the project could save New England ratepayers 4.6 billion dollars in energy costs over 25 years.
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