Spain Cuts Green Energy Losses
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  • Atanu Maulik

    That’s one huge positive to come out of this Eurozone mess. Europe is running out of money to feed the green elephant. The great news is that the pain is likely to endure for a few more years. Hopefully Europe will be fully cured of its green madness by then.

    • arrow2010

      Probably not.

    • Teddi

      You’re right ! ..and what a waste.

  • alpha2actual

    Cape Wind project in Nantucket Sound. The project will cost $2.6 BILLON, and it has secured funding for $2 BILLON of that from a Japanese bank. But this is believed to be subject to the project gaining a loan guarantee from the U.S. Department of Energy. The contracted cost of the wind farm’s energy will be 23 cents a kilowatt hour (excluding tax credits, which are unlikely to last the length of the project), which is more than 50% higher than current average electricity prices in Massachusetts. The Bay State is already the 4th most expensive state for electricity in the nation. Even if the tax credits are preserved, $940 million of the $1.6 billion contract represents costs above projections for the likely market price of conventional power. Moreover, these costs are just the initial costs they are scheduled to rise by 3.5 percent annually for 15 years. This project is rated at 468 MW and will produce 143 MW after applying a Capacity Factor of 30.4 % the time the wind actually blows.

    A Combined Cycle Natural Gas plant studied by the DOE completed in 2010 is rated at 570 MW and produces 470 MW capacity factor 85%. Cost $311 MILLION, life cycle 30 years. You don’t need a MBA to discern that something is amiss.

    • Teddi

      The great “green” scam is sickening…

  • A Smith

    Cronies are always outraged when the spigot stops.

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