Economic Benefits FAQs
How will this project affect consumers electric bills?
Wind power will stabilize consumers’ electricity rates. Due to its lack of fuel cost, clean energy from offshore wind protects consumers from the price volatility of natural gas by offering a fixed low price over a period of 20 years.
How will the project benefit Southern New England?
The Southern New England region will benefit from hosting a major clean energy infrastructure project through additional revenue, local jobs, and business activity. The SouthCoast Wind project is anticipated to create over 15,000 direct, good-paying full time equivalent jobs and supply chain growth across all phases of development, construction, and operations. SouthCoast Wind is committed to investing in the region and establishing meaningful local partnerships that bring economic opportunity to our communities, with a particular focus on historically disadvantaged areas.
On the South Coast of Massachusetts, we plan to repower Brayton Point, help to revitalize Fall River, and support the thriving and growing port community of New Bedford. SouthCoast Wind’s economic development and community investments will lay a foundation for a new business and employment cluster for the region. We look forward to being a long-term and committed partner in the SouthCoast community.
How will the project benefit host communities?
In addition to the regional benefits associated with the SouthCoast Wind project, such as job creation, port & infrastructure investments, and supply chain advancement, the local communities in which SouthCoast Wind’s project components will be located (aka “host communities”) will receive additional direct benefits, primarily through the establishment of Host Community Agreements.
A Host Community Agreement is an essential tool for providing direct revenue to towns through payments during project operations. Payments may support locally driven initiatives, such as coastal resiliency, energy efficiency, and other priorities, as determined by each Town.
How many jobs will the project create?
The SouthCoast Wind project is expected to create over 15,000 direct, good-paying full-time equivalent jobs and supply chain growth across all phases of development, construction, and operations.
What supply chain opportunities are there for local contractors and suppliers over the course of the project’s lifespan?
Offshore wind is a rapidly developing industry, where supply chain contractors are actively seeking opportunities to enter the U.S. market or expand existing U.S. operations into offshore wind services. While SouthCoast Wind is committed to local sourcing as much as possible, the project is designed within the limits of the current domestic supply chain and the respective roles of market participants, including original equipment manufacturers (OEMs) and engineering, procurement, construction, and installation (EPCI) service firms.
The near–term supply for many of the largest and components—including export cables, substations, gearboxes and generators− are largely served by European firms. The opportunity for suppliers to enter the U.S. offshore wind market is highest in foundations/substructures, towers, blade materials, and power converters and transformers. Potential areas for local contractors could include surveys, port operations, vessel operators, safety and training, blade repair, foundation and cable inspection and repair, among others.
We encourage interested contractors and suppliers to contact us.
Does the project have agreements with organized labor?
In 2022, SouthCoast Wind signed a Memorandum of Understanding with the North American Building Trade Unions and the United Brotherhood of Carpenters regarding the onshore and offshore construction work for the 1,200 MW SouthCoast Wind 1 Project. The MOU includes commitments to create jobs for local and diverse workers and to comply with the labor requirements of the Inflation Reduction Act, including paying prevailing wages and utilizing apprentices.
How does SouthCoast Wind support diversity, equity, and inclusion?
SouthCoast Wind has developed its diversity, equity and inclusion (DEI) plans with the goal of increasing the diversity of its internal staff, and its external partners. We believe that increasing diversity at every level of our organization will bring a wider range of experience and perspectives.
We are also committed to ensuring that everyone has an equal opportunity to participate in the offshore wind industry and we will fully support those organizations and communities that can help make this goal a reality.