Friday, March 2, 2012

The High Cost of Renewable-Electricity Mandates

From The Manhattan Institute:

by Robert Bryce
Manhattan Institute
March 01, 2012
Motivated by a desire to reduce carbon emissions, 29 states have required utility companies to deliver specified minimum amounts of electricity from “renewable” sources. Proponents of the renewable portfolio standards say that the mandated restrictions will reduce harmful emissions and spur job growth, by stimulating investment in green technologies. But this patchwork of state rules—which now affects the electricity bills of about two-thirds of the United States population as well as countless businesses and industrial users—has sprung up in recent years without the benefit of the states fully calculating their costs. There is growing evidence that the costs may be too high—that the price tag for purchasing renewable energy, and for building new transmission lines to deliver it, may not only outweigh any environmental benefits but may also be detrimental to the economy, costing jobs rather than adding them.

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