Daymark Study Highlights Missed Savings from Offshore Wind Delays

According to a report from Daymark Energy Advisors, New England ratepayers could have saved $400 million last winter if 3,500 megawatts (MW) of contracted offshore wind (OSW) had been operational. The study was prepared for RENEW Northeast.

The analysis, titled "Value of Wind in Winter 2024/25", modeled the impact of offshore wind generation during the region's most expensive energy season. Findings indicate that OSW could have:

• Produced 3.6 billion kilowatt-hours of electricity, enough to power over 567,000 homes.

• Reduced fossil fuel use by 34 million MMBtu.

• Avoided 1.8 million tons of carbon emissions, comparable to removing nearly 400,000 gasoline-powered cars from the road.

• Lowered wholesale energy prices by 11%.

The report follows an ISO New England finding that regional energy prices rose 67% between 2024 and 2025, driven largely by a 112% increase in natural gas prices, the region's primary power source.

According to Daymark, even under conservative estimates, Massachusetts households could have seen bill reductions of up to $2.68 per month. The study highlights the potential economic and environmental benefits of accelerating OSW project timelines, many of which are currently contracted but delayed.

Source: daymarkea.com