News
Category:
Impact on Economy
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Who will pay for cap and trade? Curbing global warming could be costly to consumers
July 12, 2009 by Jill Schramm in Minot Daily News
July 12, 2009 by Jill Schramm in Minot Daily News
As Congress prepares to tackle global warming, Americans are nervously fingering their pocketbooks.
Projected cost increases associated with a proposed cap-and-trade program have ranged from $175 a household in 2020, calculated by the Congressional Budget Office, to an annual average of $2,979 in Heritage Foundation estimates.
Also filed under [
Energy Policy|
USA]
Rate hike needed to afford cleaner energy, SRP says
July 11, 2009 by Ryan Randazzo in The Arizona Republic
July 11, 2009 by Ryan Randazzo in The Arizona Republic
Salt River Project announced Friday that it was considering raising electricity rates 8.8 percent, opening the next chapter in a long string of rate hikes to hit Arizona consumers over the past decade.
But it also offered a glimpse of the future, where more energy will come from cleaner, renewable sources - but will come at a premium.
If approved, the increase could go into effect in October.
Also filed under [
Tax Breaks & Subsidies|
Arizona]
With credit costlier and harder to come by, and oil and natural gas prices down sharply over the past year, the nation's nascent wind industry may begin to focus on smaller projects that are closer to major population centers rather than massive developments like 81-year-old Pickens envisioned, industry officials said.
"You've got an industry that is kind of hanging on by its fingernails," said Denise Bode, chief executive of the American Wind Energy Association.
Also filed under [
Energy Policy|
USA]
"New wind-farm activity has slowed as developers, wind-turbine equipment manufacturers and their financing sources are waiting to see what government benefits can be expected," CEO and Chairman Zsolt Rumy said in a statement. "Although project cancellations are very uncommon, a number of them are on hold until the economic uncertainties are cleared up."
Also filed under [
USA]
Burbank Water and Power officials are urging the City Council to oppose legislation that would force them to produce a third of their energy from renewable sources by 2020, arguing the requirements would drive up utility rates and strain existing electric transmission assets that the state is in short supply of.
Also filed under [
Energy Policy|
California]
Cap and trade bill stirs controversy over jobs in U.S.
June 30, 2009 by Matthew Rusling in China View
June 30, 2009 by Matthew Rusling in China View
U.S. President Barack Obama, whose administration has made clean energy a top priority, told reporters the bill "ushers in a critical transition to a clean energy economy..." But opponents say it will amount to a heavy tax on industry that will put people out of work.
Over time, the cap becomes more stringent to reduce carbon emissions, causing the cost of permits to surge and forcing factories to relocate to Asia, critics said.
Also filed under [
USA]
"Worldwide, we've hit definitely hit a situation where there's been a slowdown in demand and that is definitely resulting in prices coming down," Zindler said. "There is a belief that demand will pick back up and that that will result in prices going back up."
Wind energy infrastructure would raise price 20%, study says
June 24, 2009 by Bloomberg News in Los Angeles Times
June 24, 2009 by Bloomberg News in Los Angeles Times
Building transmission lines would cost as much as $4 billion a year, and managing its variability would add further to its price, the Pew Center said in a report today. Prices would still be competitive with other energy sources if the U.S. approves legislation to limit greenhouse gases, the group said.
Also filed under [
Energy Policy|
USA]
P.E.I. must care for the North Shore's famous views when expanding wind power generation, says the Dune Shores Tourism Association.
The Island often uses views of the area east and west of Cavendish to sell the Island to tourists. But the province wants to triple its wind power generation, and a group has come forward to build in the area.
A full gallery last night at Prince Edward County Council. The crowd was made up of local real estate professionals, and tourism business operators. They are dead set against industrial wind farms anywhere near homes and business in the County.
Also filed under [
Property Values|
Canada]
A growing number of advocates, among them Governor Corzine and President Obama, believe that energy efficiency and renewable energy could not only help the environment but replace jobs lost in the recession.
Critics, however, say that's an expensive and unproven way to create jobs that will destroy jobs in other sectors, and in many cases will be little more than putting a green veneer on existing trades.
"If you spend a billion dollars, sure you will create jobs," said William T. Bogart, an economic professor and dean of York College of Pennsylvania. "The question is, on net, how many?
Also filed under [
USA|
New Jersey]
The U.S. government is committing billions of dollars to support renewable energy such as wind- and solar-power plants. Some say it should use more of that financial clout to encourage less energy consumption in the first place.
Advocates of conservation, including businesses that help homeowners and companies save energy, think there should be more subsidies and tax incentives for basics like insulation and window shading, and for newer, more costly products like light-emitting-diode lamps and building-automation systems.
Also filed under [
Tax Breaks & Subsidies|
USA]
California's push for renewable power could prove costly to consumers.
Gov. Arnold Schwarzenegger's plan to get one-third of the state's electricity from renewable sources by 2020 could cost $115 billion in new infrastructure, according to a report released Friday by the California Public Utilities Commission. Last year, a similar report from the commission estimated the cost at $60 billion.
Also filed under [
Energy Policy|
California]
Massive investment in renewable energy could ultimately create 4 million manufacturing jobs. But for the workers in the bottom rung of this movement, the shift to green jobs could very well mean a pay cut of nearly 60%, a trend spreading across the entire manufacturing sector.
Also filed under [
USA]
Montana-Dakota Utilities Co. and Otter Tail Power Co. estimate the current rules could drive up their customers' monthly bills by 18 percent to 30 percent annually.
If the problem is not remedied, it could undermine public backing for wind power development in North Dakota, Public Service Commissioner Tony Clark said. The state has more than 700 megawatts of wind generation capacity, with more than 3,000 megawatts of projects planned.
Also filed under [
Tax Breaks & Subsidies|
North Dakota]
Billions of dollars in upgrades to Alberta's power transmission network will hit consumers in the pocketbook.
The province's electrical operator says the average consumer will see power bills go up by $8 a month to pay for the first phase of projects, which have an estimated price tag of $8.1 billion.
Also filed under [
Energy Policy|
Canada]
Nobuo Tanaka, executive director of the International Energy Agency, says it is "inevitable" that the manufacturing of renewable energy components - mainly solar modules and wind turbines - will move to China and, to a lesser extent, India. "The PV cells made there are not of as high a quality yet [as those made in Europe] but they will get there."
This view is echoed by George Frampton, former chairman of the White House Council on Environmental Quality and a member of the Obama campaign's transition team. He says: "There is a very strong momentum. And it's not just because of the cost, it's also that I'm not that optimistic that this market is going to boom in the US."
A multi-million-pound scheme to promote tourism in the South Wales Valleys will be undermined if plans for two new wind farms get the go-ahead, campaigners claim.
Plans for the wind farms straddling the Ogmore and Rhondda Valleys are due to go before councillors in July, when protesters will make their feelings known by marching on the council offices in Bridgend.
The group fighting Shear Wind's Glen Dhu turbine project says property values could drop in the area if the development goes ahead.
Susan Overmyer, media relations for the Eco Awareness Society, said several recent studies show home values could deteriorate by "20 to 30 per cent" if turbines are built in the proposed area near Baileys Brook.
Also filed under [
Property Values|
Canada]
Bosses of a historic Northumberland estate told a wind farm inquiry the turbines would damage tourism.
Trustees of the Ford and Etal Estates also revealed they had been close to allowing turbines to be erected on their land, before pulling out of negotiations following a "backlash of public opinion". ...The estate asked the developer to consider reducing the height of the turbines but this approach was rejected. As a result, the trustees pulled out of negotiations in early 2006, incurring "considerable abortive professional fees."
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