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URL:  http://boards.fool.com/quotthis-proposal-would-require-electric-30335494.aspx

Subject:  Re: We get it Date:  10/23/2012  10:05 AM
Author:  telegraph Number:  18049 of 18438

"This proposal would: Require electric utilities to provide at least 25% of their annual retail sales of electricity from renewable energy sources, which are wind, solar, biomass, and hydropower, by 2025.

Limit to not more than 1% per year electric utility rate increases charged to consumers only to achieve compliance with the renewable energy standard."


Yeah right.....

Let's see...wind and solar are at least 50% more expensive...and in addition, you need to have 100% backup for them - capacity sitting there not being used, so at night you have electricity and when the wind dies (70% of the time) you have power. it's actually close to double the cost or more.


So MI would start to import power from Canada (hydro)? Paying out tens of millions of dollars to Canadians? Sending money out of state? ANd of course, jobs out of state?

ANd likely start buying wind power from out of state - more jobs moving out of state?


Biomass? Last I checked, MI is not exactly in the corn belt.....and by the time the EPA gets after you for burning 'biomass' leftovers, you can't afford it.....and every biomass plant has gone bust, taking hundreds of millions if not billions of taxpayer money down the drain!..... the amount of fossil fuels needed to haul all the biomass to a biomass plant exceeds all the energy you'll ever get out of the biomass.


Dream on.....yep, only 1% increase in rates to fund a program that costs 50% or more to get the electricity. Only in a progressive 'money fairy' world where money magically appears when needed....and you are screwed by tens of millions in penalties for not doing what you can't afford to do.

I got a better idea. Pass the mandate, but insist that every green power provider who wants to participate in the program first has to borrow or receive no federal, local or state money, and must sell power to the state at no more than the lowest cost available power from other sources such as coal or NG.


t.
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