Articles filed under Impact on Economy from California

2019 US wholesale solar prices more than double wind, gas as renewables use reaches record levels: EIA

In 2019 more than half of wind generation occurred at night, "resulting in lower average wholesale prices for wind-powered electricity than solar-powered electricity." EIA data shows wind farms in Texas, Oklahoma and Kansas collectively produced 45% of total U.S. wind generation in 2019 and in those states the average wholesale wind price was $26/MWh compared with $47/MWh for wind generation in the remaining states.
20 Oct 2020

Thorny issues challenge California's commitment to renewable energy goals

“There is a regressive nature to some of these things,” Lt. Gov. Gavin Newsom said Friday, noting that more than 1 million state households spend more than 10% of their income on energy. “We have to be sensitive to issues relating to energy costs.” ... renewable energy goals will require going far beyond putting up new wind turbines and solar array farms. 
16 Jul 2016

Imperial County betting its future on renewable energy

Economists are more skeptical about the long-term benefit to the county. They point out that solar and wind farms bring in an initial boom of constriction jobs, but require very few workers once they're up and running. The five projects being built in Imperial County will generate 1,946 temporary construction jobs but only 71.5 permanent ..."Once you build them you don't need many folks to maintain them."
27 Feb 2013

Taxpayers, ratepayers will fund California solar plants

The power generated by the mega-plants will be among the most expensive renewable energy in the country. ...Stanford University economist Frank Wolak said the state's renewable energy strategy could boost electricity rates 10% to 20%, depending on a number of factors. Potentially, consumers' bills could go up by 50%. "It is easily in the billions of dollars," he said.
21 Sep 2012

Property value losses near wind turbines greater than previously thought, appraisers say

The current study, released in July of 2011 by the Economic Financial Studies School of Business at Clarkson University, cites losses of up to 40 percent on properties located within 0.10 miles of new wind turbine facilities. This has prompted him to revise his loss figure upward to a maximum of 40 percent and expected adverse impacts out to three miles, with effects becoming less extreme with distance.
30 Mar 2012

Obama officials sat in on Solyndra meetings

Questions about the loan have been simmering for months. In 2009, the Energy Department put Solyndra's application on a fast-track for approval ...The generous terms of the government loan included the lowest interest of all the green projects benefitting from Energy Department help ...And as part of the deal, the Energy Department agreed that if the company went bust, private investors could recoup their losses before the government.
9 Sep 2011

Number of green jobs fails to live up to promises

Federal and state efforts to stimulate creation of green jobs have largely failed, government records show. Two years after it was awarded $186 million in federal stimulus money to weatherize drafty homes, California has spent only a little over half that sum and has so far created the equivalent of just 538 full-time jobs in the last quarter ...Job training programs intended for the clean economy have also failed to generate big numbers.
19 Aug 2011

Forecast: Jobs recovery not likely to be green

But there's no sign that demand for solar-panel installers, wind-farm workers and other green positions will be strong enough to drive California's unemployment rate below the national average, the forecast said. "As we look at the hype around 'green is going to drive the economy,' the fact is, not really," Jerry Nickelsburg, author of the forecast, said in an interview.
24 Mar 2010

California renewables push could drive up prices in Oregon

California's push to supersize its renewable energy standards could drive electricity rates higher for Northwest consumers, strain the west's transmission and hydroelectric systems, and create a host of thorny policy issues. The California Assembly passed a pair of bills Friday to create the nation's most aggressive renewable energy mandate. It would require utilities to meet one third of their customers' needs with green energy such as wind, solar and geothermal by 2020.
15 Sep 2009

State green power plan will cost consumers billions

Sharon Reid and her husband, Dewitt, a retired Marine major, pay $170 in a typical month ---- and some months more than $230 ---- to cool and light their 2,000-square-foot, tri-level home in Vista. Without making any changes in lifestyle, their electricity bill is likely to increase by $45 a month on average as California overhauls its power grid and tries to shift the source of one-third of its electricity from fossil fuels to green sources by 2020.
12 Jul 2009
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