Articles filed under Impact on Economy
Gov. Arnold Schwarzenegger was all smiles in 2006 when he signed into law the toughest anti-global-warming regulations of any state. Mr. Schwarzenegger and his green supporters boasted that the regulations would steer California into a prosperous era of green jobs, renewable energy, and technological leadership. Instead, since 2007 -- in anticipation of the new mandates -- California has led the nation in job losses.
The closure this month of Trinity's Tank Car Inc.'s freight railcar manufacturing plant in Oklahoma City affected about 250 hourly and administrative employees. Tulsa-based Trinity Structural Towers Inc., which produced towers for wind farms, closed Jan. 16. About 130 hourly and administrative workers lost their jobs. Employees at both facilities were given a 60-day notice, the company said.
It has been reported today that the £1.5bn London Array project, which would plant 270 turbines in the Thames Estuary off Thanet, may be jeopardised by funding doubts. ...Consortium members are likely to ask the Government to raise its level of subsidy, arguing that the private sector should not bear so much risk from a scheme that is in the national interest. London Array has been in the planning stage for years, and a team of engineers have been working on it for some time.
According to the Financial Times, E.ON UK, the British arm of the German energy group, said the viability of its London Array project, a planned 1000 MW wind farm in the Thames estuary, had been called into question by the falling prices of oil, gas and carbon dioxide emissions permits. ...Centrica, the owner of British Gas, estimates that each megawatt of wind power capacity costs about £3m to build: more than the equivalent cost for a nuclear power station.
If they could demonstrate there was a desire for renewables here, perhaps Arizona Public Service would sign a contract with an entrepreneur to start a solar, wind or biomass energy project in northern Arizona and create new jobs here, they reasoned. That didn't happen -- APS spent that money on renewable power elsewhere. But backers aren't dismayed and say they will continue the project this coming year.
Wind turbine blade maker LM Glasfiber Group has announced that it will lay off up to 600 workers at plants in Europe and the United States. The Danish company plans to cut a fifth of its domestic workforce - 450 employees - and to close one of its two blade plants in Little Rock, Arkansas, with the loss of 150 jobs. ...Despite this, the company stressed it is confident in the long-term outlook for the wind turbine business.
New York State Electric & Gas Corp., acquired last fall by a large Spanish utility, wants to increase rates and plans to reduce capital spending this year as it faces serious financial issues. ...It is unclear how any rate increase sought by NYSEG would be impacted by the $275 million that the PSC has ordered Iberdrola to return to upstate customers as a condition of the merger.
In the 20 years I have lived in Colorado, I have seen the transition from a growing, functional economy into an economy that increasingly relies on obscure, "politically correct" subsidies such as solar- and wind-power generation that are touted as solutions to our economic woes. ...these partisan policies are undermining Colorado's economy.
The former head of tourism in Argyll and the Islands is to appear as a professional witness at two public inquiries into the refusal of separate wind farm proposals for hills opposite Rothesay Bay. James Fraser, formerly VisitScotland's area director for Argyll, the Isles, Loch Lomond, Stirling and the Trossachs, will give evidence against the plans when developer West Coast Energy appeals against refusal of its proposal at an inquiry which begins at the Queen's Hall in Dunoon on January 20.
Lower prices for crude oil and natural gas may not have a lasting impact on expansion of the alternative energy sector in Western Canada-- but the current worldwide economic slowdown will, observers predict. ..."When push comes to shove in the budget process and you're concerned with funding people versus funding things, the short-run discount of protecting lives virtually always wins and investing in the future by building more renewables or encouraging more R&D in renewables tends to get less attention." That translates into fewer direct or indirect subsidies and fewer regulations designed to encourage the use of alternative energy.
Hucksters hoping to become billionaires by selling windmills and solar panels count. Somehow, the hucksters also have lured the nation's tree huggers into their web, so anybody who bucks the wind-solar crusades is an environmental hobgoblin.
Xcel Energy oversold wind energy credits as far back as 2000 for a program in which customers voluntarily pay a premium for wind-generated power, according to an investigation by Colorado Public Utilities Commission staff. A settlement is looming related to Xcel's excess collections for the Windsource program from 2005 to 2007, which was disclosed earlier this week.
Xcel Energy overcollected more than $1.5 million from customers who voluntarily pay a premium for wind- generated electricity, according to the Colorado Public Utilities Commission staff. From 2005 to 2007, the state's largest utility sold credits for more green power than it generated at the wind farms in its Windsource program. Xcel knew it would have a production shortfall in the program but "failed to act".
The city of Durango is pulling the plug on green power because of problems with green -- or money. ...The La Plata Electric Association charges 80 cents more per 100 kilowatt hours for electricity from solar and wind power. LeBlanc says that adds $45,000 to the city's annual electric bill.
Clean energy stocks crashed by two thirds. The chart of the WilderHill New Energy Global Innovation index resembles the Nasdaq Technology index in 2000. ...International Energy Agency analyst Ralph Sims, who attended Poznan, said everything depended on US President-elect Barack Obama rebuilding momentum. He would deliver comfort, but an effective response to climate change would need him to push the political, business and fiscal agenda in favour of a green new deal. This is a tall order when his priority is to rebuild the US economy.
The nearly 8 percent rate increase Redding Electric Utility will seek Tuesday for next year and 2010 could be just the beginning of a long, steady and rather steep cost climb for customers. Rate forecasts through 2014 show REU imposing identical 7.84 percent increases each year while still chewing through wads of cash. ...Redding has made up for the lost hydropower, in part, by commissioning a pair of large gas-fired turbines at its plant on Clear Creek Road. The utility has also entered long-term contracts for wind and biomass power. The wind and biomass have allowed REU to meet state renewable energy mandates. But all three power sources cost more than twice as much as hydropower, adding $10.5 million each year on average to REU's fuel tab, Hauser said.
The American Wind Energy Association claims it is wind power that creates the most jobs per kilowatt hour. One oft-cited statistic is that there are 27% more jobs per kilowatt-hour from wind than from coal, and 66% more from wind than from natural gas. ..."To the extent it's true, it illustrates these technologies aren't that efficient."
A power producer typically gets paid for the power it generates. In Texas, some wind energy generators are paying to have someone take power off their hands. Because of intense competition, the way wind tax credits work, the location of the wind farms and the fact that the wind often blows at night, wind farms in Texas are generating power they can't sell. To get rid of it, they are paying the state's main grid operator to accept it. $40 a megawatt hour is roughly the going rate.
The alternative-energy sector has run smack into a credit crisis, probably a recession as well, and almost all industry experts think the fourth quarter is going to be worse. ...The reality today is that it's more expensive to produce renewable energy than it is from traditional resources, and consumers suddenly strapped for cash will start moving away, said Jerry Taylor, a senior fellow at Cato Institute. Even proponents are slowing the move toward alternative energy, at least for the moment.
Xcel Energy has asked regulators to increase the amount it can charge consumers to help recover the cost of renewable-energy generation. ...If approved, the increase would take effect Jan. 1 and increase typical residential bills by 33 cents a month.