US government invests in offshore wind farms

New York Times : Secretary of Energy Steven Chu and Secretary of the Interior Ken Salazar addressed the issue of offshore wind farms at a news conference yesterday in Norfolk, Virginia, announcing up to $50.5 million in federal spending over the next five years. Because about 78% of the nation’s electricity demand lies in 28 coastal states, harnessing the ocean breezes would be advantageous. However, the effort will require a lot of work, they say. Offshore wind generation is more expensive than conventional power generation from coal, gas, or even onshore wind due to such issues as reliability, parts manufacturing, and maintenance. Chu said the goal is to get the price of offshore wind down to levels where it could compete without subsidies.