Articles filed under Impact on Economy from USA

Billions for big wind

The highly touted Cape Wind project is already stoking fears of an open-ended ratepayer burden and lack of accountability reminiscent of the state's Big Dig nightmare. As the Herald reported yesterday, the Cape Wind project, which started out as a $650 million offshore wind farm, has ballooned to more than $2 billion in construction costs and a potential $6 billion hit to ratepayers when debt service, profits, maintenance and other costs are included.
12 May 2010

The Price of Wind; The 'clean energy revolution' is expensive.

The ferocious opposition from Massachusetts liberals to the Cape Wind project has provided a useful education in green energy politics. And now that the Nantucket Sound wind farm has won federal approval, this decade-long saga may prove edifying in green energy economics too: Namely, the price of electricity from wind is more than twice what consumers now pay.
12 May 2010

Cape Wind cuts key deal

After more than five months of negotiations, the state's largest electric utility has agreed to buy half the power generated by what could be the country's first offshore wind farm. Under the deal, National Grid will pay 20.7 cents per kilowatt hour for the power from the 130 turbines that Cape Wind Associates LLC wants to build in Nantucket Sound and for renewable energy credits associated with the project.
8 May 2010

Cape Wind rate shock; Electricity will cost twice as much as power plants

The current price of National Grid's non-wind electricity is now about 9 cents per kilowatt. That means the cost of fossil-fuel generated electricity would have to increase nearly four-fold just to keep pace with Cape Wind's prices over the next 15 years. "I'm glad it's your electric bills and not mine," said Robert McCullough, president of McCullough Research, an Oregon energy consulting firm, referring to Cape Wind's prices.
8 May 2010

Panel reviews effects of wind

Members of the Orleans wind economics committee voiced a range of views on what the effects of a wind farm would be on property values in the town. Members of the committee, which met Wednesday night, are working on a report that will outline the economic effects for the school districts, participants and town and the effect of turbines in the viewshed on property values.
6 May 2010

Experts red-hot over green jobs; Feds spend $8M to define trendy $80B term

Although hundreds of millions in federal stimulus dollars are been funneled to the Bay State to create so-called green jobs, no government definition of "green job" exists ...The U.S. Bureau of Labor Statistics is working to establish an official definition, but it won't be finalized until next year, an official said. The bureau itself is spending $8 million in stimulus funds just to define and quantify "green jobs."
2 May 2010

Alliant official: Wind energy is not cheaper

On the day President Obama stopped at Siemens and touted advancements in wind energy, a hard truth came to light on the other side of town. Wind energy is not cheaper. At least that is what Tom Aller of Alliant Energy/Interstate Power and Light told a crowd at St. Mary's Parish Center in Fort Madison.
29 Apr 2010

An ill wind off Cape

The nine-year battle over Cape Wind is far from over - hell, it hasn't even gone into extra innings yet. Salazar's anointing of it yesterday isn't going to make it so. And thank goodness for that. Slap a "green" label on anything and the Obama and Patrick administrations are all over it. The costs to taxpayers and ratepayers be damned.
29 Apr 2010

'Cost recovery' for Alliant will cut businesses, customers deep

A proposed 14 percent increase from Alliant Energy for electrical rates would not only be a burden on some residential customers, but could affect expansion for local businesses. ...IPL representatives say they need the money to recover costs for "green" energy investments. The 14 percent raise - or $163 million - will fund expenses from Whispering Willow Wind Farm, a $468 million project, and major investments in distribution and transmission infrastructure.
28 Apr 2010

State's green economy not as rosy as predicted

Green jobs. Maine is trying to position itself as a leader in a clean-energy economy. Advocates envision thousands of green jobs, buttoning up drafty homes, developing wind farms and installing solar panels. But a new report by the Maine Department of Labor says the reality is more complicated. It's not possible now for the state to develop a detailed plan for green work force development, the department has concluded. Researchers can't even confirm the number of green jobs in Maine today.
18 Apr 2010

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

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

Mass. gov supporting renewable energy initiatives

Any public subsidies should benefit the public and not become "a windfall for Cape Wind or National Grid," he added. He also said the power produced by Cape Wind should come in at a "substantial discount" compared to a proposed eight turbine Rhode Island project off the coast of Block Island. Cape Wind spokesman Mark Rodgers declined to comment on the negotiations with National Grid for a long term power purchasing agreement.
21 Mar 2010

Obama's great jobs plan

Recently, several U.S. senators including our own Senator Sherrod Brown had the courage to take on this issue. According to Senator Charles Schumer's Web site on March 4: "We cannot sit idly by while China races to the forefront of clean energy production at the expense of U.S. manufacturing, U.S. jobs, and U.S. energy independence. And we certainly can't shoot ourselves in the foot by helping to finance Chinese clean energy production.
14 Mar 2010

Wind farm: PUC questions costs, benefits

Block Island could meet most of its electricity needs through clean energy generated by the eight-turbine wind farm proposed for southeast of the island, at reasonable prices usually associated with fossil fuel generation, Deepwater Wind CEO Bill Moore testified to the Pubic Utilities Commission Wednesday. However, that does not factor in the cost of a cable connecting Block Island to the mainland — essential to the viability of the project — or the above-market costs that mainland ratepayers would have to shoulder.
10 Mar 2010

Business group balks at cost of wind power

The executive director of the Energy Council of Rhode Island, a nonprofit organization known as TEC-RI that represents 35 of the state's biggest manufacturers, universities and hospitals, testified on Tuesday against an agreement under which Deepwater Wind would sell power generated by the offshore wind farm at more than twice the price National Grid pays for electricity from conventional sources.
10 Mar 2010

R.I. business group opposes price of wind power

Some of Rhode Island's largest users of electricity have come out for the first time in opposition to a proposed power-purchase agreement between National Grid and the developer of an eight-turbine wind farm in waters off Block Island. ..."We have concluded that this contract includes a price that is so high that it more than negates any other potential attractive features."
9 Mar 2010

Study: Wind power would drive up costs

A key finding revealed that in addition to the infrastructure and operating costs for wind turbines and equipment and transmission facilities, there is an extra 10 percent cost for wind energy to Nebraska utilities - or $5.41 a megawatt-hour - to integrate wind generation into the generation mix. This cost was evaluated at the 10 percent wind generation level and takes into consideration the cost of using other generation facilities to help balance wind power's variability.
8 Mar 2010

Senators balk at stimulating foreign-backed wind farms

A group of senators wants to halt stimulus funding for several wind projects regarding concern that the program has subsidized too many jobs overseas. The dispute began after a planned Texas wind farm with substantial Chinese investment announced it would seek a $450 million stimulus tax credit. The developers initially said the project would support 3,000 jobs in China and about 300 in Texas.
7 Mar 2010
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