Articles filed under Impact on Economy from New Jersey
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.
Here's why his leadership on this issue is so critical. The EPA's new rules mandate that New Jersey cut carbon emissions 26 percent by 2030. The only way to achieve such dramatic reductions over such a relatively short period of time is to shutter many of our traditional power sources that provide affordable and dependable energy.
Acadian, the Louisiana consultant the rate counsel hired, estimates the Fishermen's project would cost $282.2 million over 20 years, including operation and maintenance costs, and would generate only $74.2 million in revenue. It would require $208 million in subsidies from ratepayers.
In asking to intervene in the case, the two agencies argued that the project, stretching from Virginia to New Jersey, could adversely affect the rates paid by consumers and also place much of the risk on the ratepayer instead of the developers. The Atlantic Wind Connection is a 350-mile underwater transmission line, which aims to connect the spate of offshore wind farms being developed by New Jersey and other states.
New Jersey's Division of Rate Counsel estimates that building 1,100 megawatts of offshore wind capability could cost $5.6 billion over the next 20 years and cost average ratepayers $5 to $8 surcharges on their monthly bills.
Sen. Paul Sarlo (D-Bergen), the chairman of the budget panel, reflected lawmakers' fears about the cost to consumers when he told Martin: "My concern is very simple. The cost of this energy is quite expensive.'' In Massachusetts, Sarlo noted, the Cape Wind offshore wind project is now expected to cost consumers there $200 million more on their electric bills in the first year.
New Jersey's effort to power much of the state with off-shore windmills will mean higher electric bills, state officials said today during a legislative review of the state's proposed Offshore Wind Economic Development Act. Business and industry consultants put the additional cost to ratepayers at between $7 billion and $14 billion over 20 years.
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?
Of the proposals under consideration, at least one would be off the coast of Ocean County, 18 miles from Long Beach Island. Although a study prepared for the BPU noted the impact of wind farms off the Jersey coast on the fishing and tourism industries would be temporary and relatively minimal, it indicated there was far greater sensitivity to the visual impact of wind farms in Ocean County than in Cape May and Atlantic counties. The BPU should take that into account. ...The projected loss of tourism revenue would drop off dramatically if wind farms were located 6 miles or more off the coast.
Companies attempt to stand out from the competition based on three factors -- quality, speed and price, Stanton said. "We give you a fourth one." ...The company was one of the first businesses in New Jersey to commit to purchasing energy from the new wind farm in Atlantic City.
The state shouldn't allow companies to build hundreds of windmills off the coast without first studying their effects on tourism, anglers and wildlife. There's no bigger part of New Jersey's multi-billion dollar tourism industry than the shore.
(TRENTON) – The Blue Ribbon Panel on Development of Wind Turbine Facilities in Coastal Waters today announced their interim report is publicly available and a public meeting has been scheduled to solicit feedback on the report. Acting Governor Richard J. Codey established the Blue Ribbon Panel by executive order last December. The panel is charged with studying the costs and benefits of developing offshore wind turbines. The interim report represents the progress to date toward meeting Codey’s mandate.