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View Diary: Renewable energy, Rueing the waves (9 comments)

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  •  Also pretty much entirely full of BS (1+ / 0-)
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    Calamity Jean

    Heck, even Forbes (hardly a bastion of renewables support) is willing to admit that offshore wind either breaks even or reduces electricity rates for consumers:

    How much lower? A 2010 Study by Charles River Associates [pdf] found that Cape Wind would lower prices on the New England wholesale market by 0.122 cents on average. Since Cape Wind itself would be producing about 1% of all power on the New England market, the extra 14 cents per kWh on that power would be offset by a savings of .122 cents per kWh on all other power. By my calculations, the combination of price suppression and the increased direct price of power from Cape Wind, the net effect on the average price of power in New England of Cape Wind would be an increase of only $0.0002 (0.02 cents) per kWh, assuming the Charles River Associates study is accurate. Put another way, even if customers pay a 12.2 cent per kWh premium for power from Cape Wind, the net effect on utility bills would be zero because of price suppression.
    In Europe, fossil fuel producers are finding that wind power's low cost is suppressing the price of electricity to the point where it's becoming un-profitable to run fossil fuel plants (Jerome a Paris had a story on it a while back).

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