The state-commissioned study drew lessons from Europe’s burgeoning offshore wind sector.
European nations — albeit mostly the UK, Germany, the Netherlands, Belgium, and Denmark — have installed 20GW of offshore wind capacity over the past 20 years, whereas the US’s offshore wind sector is just getting off the ground.
US states tend to be in competition for offshore wind projects and the requisite supply chain, with little coordination.
New York is planning to source electricity from 9GW of offshore wind by 2035.
The US Bureau of Ocean Energy Management is planning an auction of offshore wind sites in the New York Bight in 2020.
In July, state officials also announced that Equinor and a partnership between the market leader Ørsted and US utility Eversource had been selected as the preferred bidders for 1.7GW in 25-year offshore wind contracts.
The most cost-effective path to low-cost wind power is also through scale and healthy competition, the researchers found.
Finally, a successful offshore sector also relies upon coordination and aligned incentives between all parties, the study concluded.
The study, "Offshore Wind: a European Perspective", was commissioned by the New York Power Authority.