ABOUT OFFSHORE WIND
Offshore Wind is Key to Clean Energy & Job Growth
- The Coastal Virginia Offshore Wind (CVOW) pilot and commercial projects will allow Virginia to harness an abundant, renewable resource to deliver clean and reliable energy and provide jobs and economic growth to the entire Commonwealth.
- Offshore wind generation is a vital part of our nation’s clean energy future and will help Virginia meet the goals outlined in the Virginia Clean Economy Act, including achieving a carbon-free future.
Virginia is Leading the Way
- The CVOW pilot and commercial projects place Virginia on a trajectory to lead offshore wind development in the United States, as Hampton Roads and the Commonwealth offer many advantages: best in class port, a central location, a capable workforce, and supportive businesses.
- When fully constructed in 2026, the Coastal Virginia Offshore Wind farm will deliver more than 8 million MWh of clean, renewable energy to the grid, avoiding as much as 4.877 million tons of carbon dioxide emissions annually – the equivalent of taking more than 1 million non-EV cars off the road for one year or planting more than 80 million trees.
- The CVOW pilot and commercial projects will give U.S.-operated and Virginia-based Dominion Energy valuable project and industry expertise and attract domestic supply chains, which will ultimately lower the costs of future offshore wind development projects and establish the tools and expertise needed to continue offshore wind expansion.
Offshore Wind Brings Economic Opportunity with Clean Energy Jobs
- From 2020 through 2026, the CVOW project will support approximately 900 direct and indirect jobs in Virginia – generating nearly $2 million in revenues for local governments in the Hampton Roads region, as well as $3 million in Virginia state tax revenues. Additionally, the project will support an estimated $143 million in economic output, as well as $57 million in pay and benefits.
- After construction of the project is complete, it is anticipated that each year, the wind farm will support more than 1,000 direct and indirect jobs in Hampton Roads, nearly $82 million in pay and benefits and nearly $210 million in economic output. Additionally, the project will generate nearly $6 million in revenues for local governments located in the Hampton Roads region, as well as $5 million in Virginia state tax revenues.
- Should Hampton Roads develop industry-specific knowledge and manufacturing companies in the industry supply chain operate in the area, the benefits are expected to be even greater. It is estimated that each gigawatt of offshore wind energy development that businesses in Hampton Roads service will result in more than 5,000 direct and indirect jobs in Virginia per year, $270 million in pay and benefits and more than $700 million in economic output. Additionally, it will generate an estimated $21 million in revenues for local governments located in the Hampton Roads region and nearly $20 million in Virginia state tax revenues.
IN SUPPORT OF CLEAN ENERGY & ECONOMIC OPPORTUNITY