Friday, January 30, 2015

"Alternative" Energy: High Cost, Poor Results

In Europe:

Europe could have saved itself $100 billion by installing solar power panels in sunnier countries and wind turbines in windier places, the World Economic Forum's "Future of Electricity" platform said in a report released on Tuesday.
The report, written with consultancy Bain, added that another $40 billion could have been saved by better cross-border coordination and bigger power cables between countries.
In the United States:

An ambitious and controversial push to erect America's first offshore wind farm has been dealt what some call a potentially "fatal" blow after two utility companies pulled out of commitments to buy energy from the lagging operation. 
The $2.6 billion Cape Wind project, a private operation benefiting from millions in federal subsidies, is attempting to pioneer offshore wind energy in pursuit of an eco-friendly, sustainable energy supply. Wind turbines would be installed off the coast of Massachusetts' Cape Cod in Nantucket Sound. 
But Cape Wind is now in limbo after utility companies terminated huge purchase agreements. They pulled out after the project failed to meet two requirements by Dec. 31: to secure financing and begin construction. 
There are ways to decarbonize energy that make sense. Here are two.

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