Tracking the development of contracted offshore wind projects in PJM, ISO-NE & NYISO
Offshore Wind MonitorTM tracks the development of contracted offshore wind projects in PJM, New England and New York. For each project, ESAI tracks development milestones, including state power purchase agreements (PPAs), interconnection, federal permitting, as well as external factors impacting the viability of each project. After assessing these factors, ESAI assigns a probability of completion to each project and projects an online date. The Offshore Wind MonitorTM informs ESAI’s outlook for offshore wind additions in our modeling efforts. This database is issued quarterly.
Several Northeast states have mandates to procure significant quantities of offshore wind capacity. Collectively, across the northeast states, these mandates total more than 36,000 MW. Several states, including New York, Massachusetts, New Jersey and Maryland have increased their procurement mandates over time and ESAI anticipates that this trend will continue.
Recently, offshore wind developers have cited several factors that may lead to project online dates being delayed, or potentially some projects being cancelled. These challenges include rising costs, interconnection challenges, and legal challenges.
The data in the Offshore Wind Monitor inform ESAI’s outlook of offshore wind additions. This new product will be issued quarterly to Renewables WatchTM subscribers.
Download Our Offshore Wind Monitor Product Brochure
ESAI Power evaluates the renewable energy issues, markets and trends in the PJM, New York, and New England market footprints. Coverage includes solar, onshore and offshore wind, hydroelectric, and storage. For each region, ESAI Power details the regulatory and market factors that impact the supply and demand balance for Class I Renewable Energy Credits (RECs) and projects the supply and demand balance of Class I RECs through 2032. Based on these projections, ESAI Power provides a Class I REC price forecast for the New England and PJM footprints and closely monitors renewable energy supply and demand developments in New York.
Read our Renewables Watch Blog Posts
Read our Renewables Watch blog posts as we evaluate the renewable energy issues, markets, and trends in the PJM, New York, and New England market footprints. Coverage includes solar, onshore and offshore wind, hydroelectric, and storage. We share the latest regulatory and market factors that impact the supply and demand balance for Class I Renewable Energy Credits (RECs) and provide the supply and demand balance of Class I RECs through 2030.
Renewable Energy PPA Trends & Outlook | Renewables Watch Blog
Renewable Energy Development Challenges | Renewables Watch Blog
NYISO Renewables Update | Renewables Watch Blog
Please contact us for more information about our research product publications or our consulting services.
ESAI Power LLC
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Wakefield, MA 01880
ESAI Power is a market research and consulting firm that delivers focused analysis of the wholesale power markets in the Northeast region of the US: PJM, NYISO, and ISO-NE. Since 2001, ESAI has been providing market-focused research product content and custom consulting services for Northeast power market participants including investors (banks, private equity, & hedge funds) & developers, generation owners & operators, utilities & retail electricity suppliers, regulators & RTOs, traders, and end-users & buyers.
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