Renewable Energy and Crony Capitalism in Action

Yeah, maybe I’ve become cynical, but when I see this article:

The Providence company that’s in the midst of building the first offshore wind farm in the United States is now working on a host of energy projects that are on land and have nothing to do with the wind.

The most immediate is a 2.6-megawatt solar farm in Foster that was recently awarded a long-term power purchase contract through a state renewable energy program. Construction on the project, which would be Deepwater’s first foray into the solar energy sector, is expected to begin in the summer of 2017.

I can’t help but think of this legislation:

Every retail electric supplier providing service under contracts executed or extended on or after January 1, 2017, shall provide a minimum percentage of kilowatt-hour sales, as determined by the commission, to end-use customers in Rhode Island from thermal energy generating sources.

The folks who run government and those most heavily invested in the renewable energy industry are pretty seamlessly integrated at this point, in Rhode Island, so this could simply be a coincidence, but whatever the case it’s an excellent example of crony capitalism (of venture socialism).  A private entity decides to enter a market, and lo’ the government decides to force people to buy its product.

Folks, this isn’t how an economy is supposed to work.  In fact, in the long run, it won’t work at all.  Rhode Island should be considered exhibit #1 for that proposition.