Goodbye alt.energy - California

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Delightful news. alt.energy is not economically feasible without massive taxpayer (and ratepayer) subsidies. From the San Jose Mercury News:

Are California’s solar and wind projects at risk in PG&E bankruptcy?
California has the most far-reaching renewable energy laws in the United States. But this week’s bankruptcy filing by the state’s biggest electric utility, PG&E, is raising major questions about whether the state will be able to meet its ambitious targets for solar, wind and other types of green electricity in the years ahead.

“It’s not just business. The state’s environmental and climate goals are at stake,” said John White, executive director of the Center for Energy Efficiency and Renewable Technologies, a non-profit group in Sacramento.

“How are we going to finance all of the clean energy initiatives we need?”

Boo hoo John - you are just throwing a tantrum because some bully named real world economics just kicked over your rice bowl. A bit more:

In stacks of court documents, PG&E asked a bankruptcy court to allow it to potentially cancel up to $42 billion in contracts that it signed over the past 15 years to buy electricity from other companies. Seventy-seven percent of those 387 contracts, or 298, commit PG&E to purchase solar, wind or other renewable energy to meet California’s environmental goals, according to its bankruptcy filing.

It sure was nice for a while for these companies - spend gobs of other people's  money, don't really have a reliable baseload product and Virtue Signal to the liberals. What could go wrong?

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This page contains a single entry by DaveH published on February 2, 2019 9:29 PM.

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