(The Center Square) — Louisiana is poised to capitalize on a “once-in-a-generation economic opportunity” with offshore and land-based wind energy, according to a recent presentation to state officials.
Highlighting the benefits of wind power, Jenny Netherton, from the Southeastern Wind Coalition, emphasized its potential to bolster the state’s energy grid, complement solar generation, and provide a reliable energy source during high-demand periods, such as hurricanes.
“This is a once in a generation economic opportunity, the same way that Louisiana has capitalized on oil and gas, we have the opportunity to do this here,” Netherton said.
Netherton also elaborated on the cost-competitiveness. According to Netherton land-based wind energy stands as the cheapest power option in the U.S., priced at $27 per megawatt-hour, surpassing both solar and natural gas.
According to SWC, wind boasts zero fuel expenses and shields against international market volatility. Further, wind can be used as a substitute for other energy sources when not operating at their maximum capacity.
“Offshore wind is particularly good during cold winter mornings when natural gas prices are at their highest and natural gas is not generating at its most effective rate,” Netherton said.
Offshore wind, already a proven resource in Europe, is gaining traction in the U.S., with projects like Dominion Energy’s Coastal Virginia Offshore Wind farm leading the way.
Set to become the largest wind farm in the nation, the Virginia project is on track and on budget, boasting a levelized cost of energy at $77 per megawatt hour and promising over $3 billion in customer fuel savings.
Louisiana aims to follow suit, leveraging its strategic advantages, including the largest port complex in the Western Hemisphere and over 450 supply chain companies ready to support wind development.
“About 26% of all contracts in this domestic industry have been found with Louisiana and Gulf Coast suppliers,” said Cameron Poole, from Greater New Orleans Inc.. “We had an updated analysis done a little over a year ago that found 450 potential companies for engagement.”
According to SWC, each projects has the potential to bring 4,500 construction jobs and 150 operating jobs. Economically, the wind industry has the potential to unleash $70 billion in activity.
On land, technological advancements are unlocking new potential in the Southeast, where wind resources were previously limited. Taller turbines —reaching heights of up to 700 feet, like those in the Delta Wind project south of Memphis — can tap into stronger, more consistent winds at 200 meters.
Louisiana currently has five land-based wind projects in the Midcontinent Independent System Operator, known as MISO queue, signaling growing interest, though development timelines typically span four to five years due to landowner agreements. For offshore projects, the timeline can exceed 10 years.
