Offshore wind can lower energy prices and beat out oil and gas. According to the Center for American Progress, “Offshore wind lease sales are a significantly better use of ocean acreage than oil and gas—for energy consumers, taxpayers, and the climate. Offshore wind leases provide a potential source of significant public revenue, a strong taxpayer investment, reduced energy costs, and far fewer environmental and health risks than fossil fuels.

As the Central Atlantic region faces exponentially rising energy demand from new technologies such as data centers, offshore wind is an important way to meet load increases while ensuring the grid remains stable and reliable. Offshore wind notably improves grid reliability during winter months, when the grid is particularly strained

For instance, by 2030, wind energy is estimated to be nearly 28 percent cheaper to produce over a project lifetime than the current levelized cost of energy for gas, which is projected to increase over the next decade.

The offshore wind project off the Maryland and Delaware coast will lower energy costs. US Wind’s project alone will generate enough clean energy to power 718,000 homes on the Delmarva Peninsula and potentially reduce energy costs. US Wind predicts the project will lower electric costs for Delaware ratepayers by up to $253 million over 20 years; the company will also invest more than $200 million in transmission system upgrades.