Cash Blowing This Way

Wind power got another boost today as the U.S. Department of Energy has just announced Texas will be home to one of two new wind-turbine research facilities.

The Lone Star Wind Alliance and the Commonwealth of Massachusetts Partnership will each be getting $2 million in test equipment for large-scale turbine research facilities. This is basically seed money, meant to attract other investors, although the alliance has already brought in $18 million in state and private cash for the project. It will be working with the National Renewable Energy Laboratory to develop blades 230 feet long, although the DOE hopes they'll finally exceed 330 feet. That's a dramatic increase over the current lengths of between 60 and 120 feet.

The other big change is that the facility will be offshore. Currently, the big push for wind has been out in West Texas, but many see the strong winds of the Gulf Coast as more reliable and prime for development – especially as oil and gas production slows down. "Texas has the deep-water ports, strong gulf winds and political will to make our coast the perfect site for the new blade-testing facility," said General Land Office Commissioner Jerry Patterson in a press release.

British Petroleum has promised to donate land at Ingleside-on-the-Bay, just north of Corpus Christi, for the new facility. If anyone's surprised that an oil firm is involved with a wind-power project, don't be. The DOE projects wind will be an $80 billion industry by 2020, and there's a lot of firms looking for ways to get out of gas while the going's good.