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Offshore wind turbines at Barrow Offshore Wind Farm in the Irish Sea. Andy Dingley

Renewable energy is truly getting cheaper every day. The 800-megawatt wind farm Vineyard Wind project, the first large-scale offshore wind farm in the U.S., has offered a total levelized price of $65 per megawatt-hour (MWh)—a record low.

The planned wind farm, located 15 mies south of Martha's Vineyard, will be jointly developed by Avangrid Inc. and Copenhagen Infrastructure Partners. Their contract was filed Wednesday with the Massachusetts Department of Public Utilities.

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