In this podcast excerpt, I discuss with the Heartland Institute’s Donald Kendal and John Nothdurft the findings of the Rhode Island Center for Freedom and Prosperity’s new report on renewable energy that confirms a very poor cost-benefit return to Rhode Islanders of renewable energy. (Listen to the full podcast of our conversation here.)
Because 98% of Rhode Island’s energy is generated by natural gas, our state already has a comparatively small carbon footprint. Further reducing it to hit purely arbitrary renewable production targets would cost state ratepayers and taxpayers $141–190 million per year in production expenses alone – four to five times the EPA’s recommended cost standard.
Rhode Islanders also cannot afford the cost to the state economy in the form of lower employment levels or in the $670–893 million per year extracted in unnecessarily higher electricity rate payments by private sector businesses and families. When will the status quo learn?
Based on these findings, the Center has strongly recommended that lawmakers reject all proposed new energy mandates and, instead, repeal those that are currently written into law. The EPA’s own cost standard highlighted in the Center renewable energy report demonstrates that state officials can set aside all renewable energy mandates with a clear conscience.