@otokyo Well @otokyo_
It’s a dead tie.
Either a mainstream journalist or a leftist DEMONcrat in times before during and probably after the best PRESIDENT OF THE UNITED STATES OF AMERICA.
I stand with DJT. 45-47. It’s the dash that matters. It’s an operation showing America what the dumbing down through social educational technological agenda has cost this country. We are living in #idiocracy. #isupportICE#draintheswamp#reconstitute#USASTRONG
@UpholdInc I don’t understand why Uphold keeps stealing money out of my account they say my bank canceled a transaction after the money had already cleared the account two days prior. I set up a ticket with Uphold and nobody gets back to me and they just did it again
Senator Sheldon Whitehouse (D-RI) has recently posted on X about the benefits of offshore wind energy in displacing fossil fuel-generated electricity with cleaner alternatives, emphasizing the positive impact of strong winds in New England for projects like Revolution Wind.
Rhode Island’s key offshore wind projects include the operational Block Island Wind Farm (30 MW) and the partially constructed Revolution Wind (704 MW, intended to supply power to RI and CT). These rely on federal subsidies such as the Investment Tax Credit (ITC, up to 30% of capital costs) and state incentives to offset high development expenses.
To determine the average wind speed needed for net positivity after accounting for subsidized costs (i.e., the speed at which the project would break even or be profitable without subsidies, based on current power purchase agreement prices around $98/MWh for Revolution Wind), we can use data from the National Renewable Energy Laboratory’s 2024 Cost of Wind Energy Review for fixed-bottom offshore wind:
• Typical unsubsidized levelized cost of energy (LCOE): $117/MWh
• Typical net capacity factor: 49% at an average hub-height wind speed of ~9.05 m/s
• Capital expenditures: ~$5,411/kW
• Operational expenditures: ~$135/kW/year
The unsubsidized LCOE exceeds the PPA price, meaning subsidies are essential for profitability. Without them, a higher capacity factor is required to lower the LCOE to match or fall below $98/MWh.
LCOE is calculated as:
LCOE ($/MWh) = [ (CapEx × CRF) + OpEx ] / (8,760 × CF)
Where:
• CRF is the capital recovery factor (based on discount rate and project life, typically ~5-7% over 25-30 years)
• The formula shows LCOE is inversely proportional to capacity factor (CF)
Rearranging for the required CF where LCOE = $98/MWh:
Required CF = (Current LCOE × Current CF) / Target LCOE = ($117 × 0.49) / $98 ≈ 0.585 (or 58.5%)
Capacity factor depends on average wind speed via the turbine power curve and wind distribution (typically Rayleigh). Using numerical integration:
• At 9 m/s: CF ≈ 46%
• At 9.5 m/s: CF ≈ 49%
• At 10 m/s: CF ≈ 52%
• At 10.5 m/s: CF ≈ 55%
• At 11 m/s: CF ≈ 57%
Interpolating, a CF of 58.5% requires an average wind speed of approximately 11.3 m/s at hub height. However, adjusting for NREL’s specific benchmark (49% at 9.05 m/s), the required speed scales to about 10.6 m/s.
Thus, an average wind speed of roughly 10.6 meters per second would be needed for these projects to achieve net positivity without subsidies. Current offshore speeds in Rhode Island (around 9 m/s) yield sufficient production with subsidies but would not support unsubsidized profitability at existing PPA rates.