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Amid the maelstrom of controversy over the nation’s first offshore wind farm, one truth is as plain as the proposed 440-foot turbines in Nantucket Sound are tall: Its energy will be very expensive.
That’s not just compared with power from coal and natural gas, but with renewable power from other sources.
Once the 130 turbines begin rotating, the energy produced will cost up to 50 percent more than energy today from some land-based wind farms and twice as much as some hydroelectric dams. The cost will increase customers’ monthly electric bills about 2 percent, and for many that is too steep in tough economic times.
After a new analysis by the attorney general’s office placed the cost of building Cape Wind at more than $2.5 billion, 2 1/2 times the original estimated price tag, the state Department of Public Utilities is weighing whether National Grid’s proposed 15-year contract with Cape Wind is a good deal for ratepapers.