The Massachusetts Legislature has passed a new bill extending the terms of future offshore wind contracts.
According to Senate President Karen E Spilka, the contracts can now be set for terms of 15 to 30 years instead of the previous 20 year maximum.
The Bill also directs the Massachusetts Department of Energy Resources (DOER) to review the effectiveness of existing solicitations in contributing to state emissions requirements.
There is also a requirement to ensure high labour standards in clean energy, including offshore wind, clean energy generation, and storage procurements.
It further requires DOER, in consultation with DPU and the Massachusetts Clean Energy Center (MassCEC), to issue guidance on long-term PPAs between offshore wind developers and municipalities, including approved aggregation plans.
The bill also expands existing tax credits for offshore wind facility employers, who now only need 50 full-time employees to be eligible for tax credits and refundable credits for capital investment.
Stephanie Francoeur, senior vice president of marketing and communications at Oceantic Network, said in response: “Massachusetts continues to demonstrate its leadership in the U.S. offshore wind industry.
“As the industry continues to create thousands of jobs and drive billions in investment across the nation, this action by the Massachusetts legislature strengthens the industry and applies lessons learned from years of offshore wind energy procurement and project development.
“Massachusetts has worked with other states on regional transmission and procurement projects, most recently securing 2,678 MW of offshore wind energy and increasing access to local economic and supply chain development.
“We look forward to Governor Healey’s signing of this bill and working with the state to continue delivering the measurable economic benefits of this American industry.”