Robert Bryce writes in the New York Post about the economic toll of President Biden’s offshore wind plan for lower and middle-class Americans.
- The Biden administration’s plan to “catalyze” the development of offshore wind would disproportionately harm lower and middle-class Americans by raising the cost of electricity.
- While offshore wind is an important part of an “all of the above” energy strategy, it remains to be one of the most expensive forms of energy.
- If President Biden wants to protect the planet and ratepayers, he should streamline the permitting for all energy sources and allow the free market to work.
“The EIA projections enable us to estimate how much Biden’s wind flotilla will cost consumers. If all 30,000 megawatts of offshore wind are built and the turbines operate at a 50 percent capacity factor (meaning they produce at full output half of the time), they will generate about 131.4 million megawatt-hours per year. At $121 per megawatt-hour, that energy will cost about $15.9 billion per year.”
Read the full article here.
The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.
