DAY 942
The proposed project is the most cost effective demonstration project in the United States. The proposed project’s capital cost of $163,800,000 equates to $6,500 per kilowatt of capacity, making it less costly than the Rhode Island and Maine demonstration scale projects.
With benefit of the DOE and ITC the net capital cost will be on par with the lowest in the world. The collective impact of the Department of Energy grant and the Investment Tax Credit effectively reduce the capital cost by almost 50%.
The proposed project capital cost is almost on par with the first true commercial scale project in the United States. Even with its small scale, the proposed project’s overall capital cost is on par with the larger Cape Wind project. This is largely due to the selection of the XEMC Darwind turbine which brings both scale and price efficiency to New Jersey.
It is not appropriate to compare the proposed project costs with full commercial scale projects in Europe or to compare it to demonstration projects installed years ago. When comparing apples to apples, the net capital cost will be on par with the lowest in the world.
The proposed project is the most cost effective demonstration project in the United States. The proposed project’s capital cost of $163,800,000 equates to $6,500 per kilowatt of capacity, making it less costly than the Rhode Island and Maine demonstration scale projects.
With benefit of the DOE and ITC the net capital cost will be on par with the lowest in the world. The collective impact of the Department of Energy grant and the Investment Tax Credit effectively reduce the capital cost by almost 50%.
The proposed project capital cost is almost on par with the first true commercial scale project in the United States. Even with its small scale, the proposed project’s overall capital cost is on par with the larger Cape Wind project. This is largely due to the selection of the XEMC Darwind turbine which brings both scale and price efficiency to New Jersey.
It is not appropriate to compare the proposed project costs with full commercial scale projects in Europe or to compare it to demonstration projects installed years ago. When comparing apples to apples, the net capital cost will be on par with the lowest in the world.