Rate Counsel Suggests NJ Slow Down the Pace of Offshore Wind Development

njspotlightnews.org

As state goals for offshore wind continue to increase, so do the costs. Some say economic and financial uncertainties will be less costly in a year or two.

Offshore wind farms in New Jersey should consider scaling back how much new offshore wind capacity is approved next year because economic and financial uncertainties could lead to higher prices, according to the Division of Rate Counsel.