The price of being green is about to come home to ratepayers in California and Germany.
The California Manufacturers and Technology Association released a new report that suggests costs associated with California Global Warming Solutions Act of 2006 (AB 32) may be a lot higher than previously estimated.
The new study estimates “that the average California family will pay an additional $2,500 annually by 2020 when AB 32 is fully implemented. In addition, the state is expected to lose an additional 262,000 jobs, 5.6 percent of the gross state product, and a whopping $7.4 billion through decreased annual state and local tax revenues as a result.” See more here.
From Spiegal Online: “Solar subsidies cost German consumers billions of dollars a year and are widely regarded as inefficient. Even environmentalists are concerned that Berlin’s focus on solar comes at the detriment of other renewables. But the solar industry has a powerful lobby, and politicians have proven powerless to resist.”
“Next year, a three-person family will likely have to pay up to an additional €175 ($220) to finance the construction of renewable energy infrastructure.”
“A new study by Georg Erdmann, professor of energy systems at Berlin’s Technical University…[estimates that] subsidies for renewable energy, including an expansion of the power grid, will saddle energy consumers with costs well over €300 billion ($377 billion)” between now and 2030.
“Photovoltaics are threatening to become the costliest mistake in the history of German energy policy. Photovoltaic power plant operators and homeowners with solar panels on their rooftops are expected to pocket around €9 billion ($11.3 billion) this year, yet they contribute barely 4 percent of the country’s power supply, and only erratically at that.” See more of the story here.
As Kermit once said, “It isn’t easy being green.”