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The Jacobs report reveals that building one-third of the offshore wind capacity proposed for Gippsland could save Victorian households $150 annually and avoid approximately 900 km of new onshore transmission, thus reducing gas dependence. The modeling includes a scenario with 7 GW of offshore wind by 2040 versus one without.

Despite higher initial costs, offshore wind is projected to lower overall system costs through reduced transmission investment and fuel expenses. The Victorian government targets offshore wind capacities of 2 GW by 2032 and 9 GW by 2040. The report suggests that offshore wind could reduce wholesale electricity prices, resulting in significant savings for households.