Cost Of Green Energy 40% Higher Than Government Estimates
Monday, 17 October 2011 18:57 The Canadian Press
Ontario residents could end up paying some of the highest costs for electricity in the developed world because providing wind and solar energy will cost about 40 per cent more than government estimates, according to a new study.
Ratepayers should expect their electricity bills to rise by 65 per cent by 2015 and 141 per cent by 2030 — substantially more than current government predictions of 46 per cent and 100 per cent, the study found.
The average residential user’s annual bill, which currently stands at $1,700, will exceed $2,800 by 2015 and be over $4,100 by 2030, it predicts.
Certain costs weren’t included in the government’s estimates, such as inflation, transmitting electricity to the provincial grid from wind and solar facilities and backup generation for potential disruptions, the study found.
Those higher costs would erode the competitiveness of businesses in Ontario and pose challenges for low-income households, said University of Guelph professor and agricultural economist Glenn Fox, who co-authored the study with retired banker Parker Gallant.
Bills could climb even higher because the study didn’t include other potential costs, such as possible cost overruns as the province refurbishes its nuclear fleet.
The study found a number of omitted costs of renewable energy that weren’t included in Ontario’s long-term energy plan, which was released last year by the governing Liberals.
The plan underestimates the capital costs of wind turbines, for example, and fails to attach any individual dollar values to specific transmission projects to put renewable energy projects on the provincial grid, the study said. […]
“The theory is that, if new industries that are not competitive are subsidized, they will eventually mature and be able to function on their own”, Fox said in a release.
“The problem with that theory is that some kids never grow up and leave home.”
And while this is in Canada, lets not think much the same thing won’t be the case here in New Zealand, Australia, and the rest of the Western World which has signed up to the “Green Energy” fraud.
1Ti 6:20 O Timothy, keep that which is committed to thy trust, avoiding profane and vain babblings, and oppositions of science falsely so called:
[Hat tip: Robertvdl for the link]
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