The New York Times ran a great story yesterday on the elephant in the room when it comes to renewable energy: cost. Even as many politicians, environmentalists
“„Even as many politicians, environmentalists and consumers want renewable energy and reduced dependence on fossil fuels, a growing number of projects are being canceled or delayed because governments are unwilling to add even small amounts to consumers’ electricity bills.
“„In April, for example, the state public utilities commission in Rhode Island rejected a power-purchase deal for an offshore wind project that would have cost 24.4 cents a kilowatt-hour. The utility now pays about 9.5 cents a kilowatt hour for electricity from fossil fuels.
“„The state legislature responded by passing a bill allowing the regulators to consider factors other than price. The commission then approved an agreement to buy electricity from a smaller wind farm, although that decision is being challenged in the courts.
“„In its most recent quarterly assessment of the renewable energy sector, the accounting and consulting firm Ernst & Young identified China as the most attractive market for investment in renewable energy.