Rebooting New Jersey offshore wind: What it will take

wind turbine, new jersey energy

MARK DEL FRANCO / NORTH AMERICAN WINDPOWER – New Jersey was an early entrant among states to offshore wind. As early as 2005, the state was working to develop it. Soon after, New Jersey also began working on an innovative program using offshore renewable energy certificates (ORECs), a financing mechanism believed to be an alternative to traditional power purchase agreements signed with a utility.

However, Gov. Chris Christie has slow-played the offshore wind opportunity. For example, the ORECs, included as part of legislation pursuant to the New Jersey Offshore Wind Economic Development Act (OWEDA), have yet to be signed into law.

The charged political and regulatory climate has already claimed New Jersey-based Fishermen’s Energy’s demonstration project …

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