Huh: Green Developers Need More Subsidies To Survive Due To Inflation

Well, you know, lots of businesses could use some subsidies, as could consumers, thanks to the Biden policies which made Wuhan Flu inflation worse

Renewable developers, pinched by inflation, to ask for increased subsidies

Developers of new renewable energy projects in New York are poised to request bigger payouts for already-contracted projects the state is counting on to hit its climate targets.

A formal petition to the state’s utility regulator, the Public Service Commission, is expected in the coming days from the Alliance for Clean Energy New York, which represents the industry, two officials familiar with the plan told POLITICO and were granted anonymity to discuss the case.

The request is expected to cite recent inflation and other challenges for projects that have already received contracts from NYSERDA and ask for an “inflation adjustment” — increased payments — for onshore renewables.

The ask from the developers throws into question the state’s pipeline of renewable energy projects, which state officials have pointed to as evidence that New York is on track to reach 70 percent renewable energy by 2030.

Getting beyond the notion that renewables almost always seem to need vast amounts of money to operate and build, they signed contracts. Did those contracts stipulate increases in payouts? Or, did they say “we’ll do the job for $X”? If the latter, well, suck it up, you should have considered the cost of a long term project.

Renewable developers say they are facing rising costs for the materials and services they rely on and are getting squeezed by higher interest rates as they go to finance projects.

You mean like everyone? Except, these “green” companies have access to state funds.

Offshore wind projects in the Northeast have also been facing inflationary pressures and pushing for revised contracts with bigger payouts. Tory Mazzola, a spokesperson for Orsted, which has a contract with NYSERDA for a 924 MW offshore wind project off Long Island, said discussions about macroeconomic factors continue.

Government should say no. The costs of renewables always look great on paper.

Net zero ‘grocery tax’ will push shopping bills up by £4bn, Tories warned

Green levies due to be imposed from next year will increase food prices within months, pushing up total shopping bills by up to £4 billion a year, retailers have warned, as senior Tories urged Rishi Sunak to drop the “nonsensical” plans.

In an open letter to The Telegraph, the British Retail Consortium suggests that a scheme to charge retailers and manufacturers for the cost of councils recycling their packaging will increase the cost of household goods when it is rolled out from April next year.

The levy was devised by Michael Gove during his time as environment secretary and billed as helping the UK to reduce waste and meet its net zero target, alongside a separate scheme to introduce a returnable deposit system for the purchase of drinks bottles and cans.

Taken together, the schemes could increase household shopping bills by up to £140 per year, based on the consortium’s estimate of an overall £4 billion cost.

The rich folks, like Sunak, do not care. It won’t hurt their own lives. It’s a blip. For the working and middle classes, so many who are living paycheck to paycheck post-COVID, it will hurt. It’s only about $173, but, consumers are already paying way more.

Also, remember when the Warmists were telling us that doing all this stuff would save us money?

Save $10 on purchases of $49.99 & up on our Fruit Bouquets at Promo Code: FRUIT49
If you liked my post, feel free to subscribe to my rss feeds.

Both comments and trackbacks are currently closed

2 Responses to “Huh: Green Developers Need More Subsidies To Survive Due To Inflation”

  1. MrLiberty says:

    In other words, IT’S NOT SUSTAINABLE!

  2. H says:

    Subsidizes? They will dwarf the increased fossil fuel costs we are going to see from the Saudis jacking the price up again on oil by production cuts.
    Our gas will go up even though we are pumping more oil now than the average under Trump
    Duke Power recently sent Teach a letter saying power wass going up 16%
    Specifically because fossil fuel prices were going up.
    NJ offshore wind will be sold for less than 9cents per kWh. They are asking for 2% increase each year.
    Teach has always supported the zArabs who set the price he pays for all fossil fuel use
    I wonder what oil will cost in 5years or 10?

Pirate's Cove