Articles filed under Impact on Economy
The city lost $21.8 million on its wind and solar contracts from 2016 to 2018 due to the falling prices of oil and gas, according to figures provided by City Manager David Morgan. Georgetown is renegotiating its 20- to 25-year wind and solar contracts to try to get a better deal, Morgan has said.
Falmouth will also spend the next 11 years paying off the remaining $3.6 million in bonds it floated to pay for the first turbine. The stimulus grant covered the cost of the second turbine on condition that it operates as an “energy efficient project.” So unless Falmouth can find someone else to take the turbine, get it running, and persuade regulators that this meets its contractual obligations, the town will be on the hook for another $5 million. That’s a lot of wasted money in a town with fewer than 32,000 residents.
Electric bills for city of Georgetown customers will increase by an average of $12.82 per month starting Feb. 1 to help the city recover the cost of purchasing energy, according to a city news release.
The oft reiterated promise of “cheap renewable green energy” is a quixotic myth, fabricated by those who have an economic incentive to lie, championed by those with a political agenda to advance, and believed by those who are too intellectually lazy to do basic research. While there is no “free lunch,” there are practical, cost-effective solutions.
Brady said the Block Island Wind Farm, owned by Deepwater, is only five turbines, tiny by comparison to Vineyard. Yet charter fishermen, who traditionally operate south of the wind farm from January through April, reported a dismal fishing season: the once bountiful cod had disappeared. Ørsted Energy, the parent company of Deepwater, like the owners of the Vineyard, have a practice of paying off fishermen whose livelihoods are damaged by the wind farms.
At issue is the layout of the project. Fishermen want wide corridors, specifically a mile or wider oriented east to west. Current plans offer two 1-mile corridors, with only one running east to west. As an alternative, Vineyard Wind proposed using larger turbines with nearly 10 megawatts of capacity, thereby reducing the number of towers ...but pose risk to the project because they haven’t received design certification.
"Fifty-three percent of the people who are going to be paying for these turbines aren’t going to benefit from them,” said Ken Girardin, a policy analyst at the Empire Center. “That is to say 53-percent of the money is going to come from rate payers north of New York City, in upstate.”
Tell me anywhere in the world where a higher penetration of renewable energy has been associated with lower electricity prices.
“They are stealing our fishing grounds by placing them on our place of work. They are industrializing the ocean floor,” said Bonnie Brady, the executive director of the Long Island Commercial Fishing Association. ...Any discussion about mitigating the effect the wind turbines have on fish so they can coexist is ludicrous. “It’s like putting a junkyard in the middle of a farm field,” he said. “The noise and sounds aren’t natural to what has been going on for a million years.”
The ACCC – whose chairman Rod Sims has long been a critic of the Renewable Energy Target and associated schemes – has also called for the Small-Scale Renewable Energy Scheme, which was due to run until 2030, to be wrapped up by 2021 – almost a decade earlier than planned.
“Newport residents, as well as residents of other Communities, have received new electric and gas bills that are giving them anxiety and sticker shock due to huge increases; And... the new distribution charges are increasing bills by huge percentages and are compromising residents’ ability to pay necessary life expenses for rent, food, medical needs; And... the RI PUC’s decision to put the significant increase in renewable power costs from off-shore wind and net-metering into the Distribution charge and not the Power Charge so that consumers cannot opt to purchase equivalent power from outside Rhode Island as provided by law...”
Unreliable solar and wind power in Germany cause more and higher electricity costs for the power grid.
The wholesale costs of power make up only about a fifth of the average household electricity bill in Germany. The rest is a stew of taxes, fees to finance renewable-energy investments and charges for use of the grid. That means their bills are lower than they otherwise would be, because power prices are sometimes negative, but utilities are not depositing money in customers’ bank accounts.
In the year that ended, electricity was more expensive than ever before - and at the beginning of the year prices are still rising, according to the "Handelsblatt" newspaper. The newspaper relied on a recent analysis of the consumer porta, Verivox.
Ontario lost between $732 million and $1.25 billion over the past two years selling surplus clean electricity outside the province, an analysis by the Ontario Society of Professional Engineers (OSPE) estimates. That’s the difference between what Ontario agreed to pay to produce nuclear, water, wind and solar power, and the bargain basement price it sold it for on the international market.
Scola is concerned about state and federal regulations. But his big concern is the prospect of hundreds, and perhaps even thousands, of giant wind turbines spread out in the New York Bight, an area along the Atlantic Coast that extends from southern New Jersey to Montauk Point. It’s one of the most productive fishing grounds on the Eastern Seaboard.
The document claims that ‘it has been widely assumed that the underlying costs of offshore wind are falling and that the CfD prices indicate a sudden paradigm for the technology’. Yet, the report points to statistical analysis of the data, covering 86 wind farms, which suggests that the capital cost of offshore wind (£/MWh installed) is not in actual fact falling, but actually rising as a consequence of companies moving into deeper and deeper waters.
Victorian taxpayers will cough up hundreds of millions of dollars to help pay for the Andrews government’s upcoming solar and wind farm auction. ...The move will punch a $250-350 million hole in the state Budget, and experts warn the full cost could be much higher.
In 2010, Mississippi lawmakers handed out $400 million in loans to green companies in return for providing 5,000 jobs. What did taxpayers wind up with? For the most part, Mississippi's green dream has become a black hole.
Legislation to cut off the subsidy on July 1 passed the Oklahoma House and a Senate committee, potentially saving the state billions of dollars, but lawmakers still must contend with an army of pro-wind lobbyists before casting the decisive votes. Our state has many other needs, from education to infrastructure repairs, more important than subsidizing the mature wind industry. Please reach out to your legislators to make sure they make the right decision on this critical issue.