The Empire Wind One offshore turbine project threatens to significantly increase energy costs for New Yorkers, potentially charging $155 per megawatt hour instead of the market rate of $50. This disparity, driven by laws mandating green energy preferences, could cost taxpayers an estimated $9 billion over the project's lifetime. Critics argue that such green energy policies, aimed for 70% renewable energy by 2030, may not only fail to mitigate climate change but also risk blackouts and higher consumer bills due to limited energy supply options.
If it went into operation, New Yorkers would be forced to pay a brain-busting 2.5 times the market rate for energy, an independent analysis found.
The project won a sweetheart contract to provide energy at $155 per megawatt hour, as opposed to the wholesale-market rate of around $50, an effective subsidy on the order of $9 billion over the life of the facility.
Under Andrew Cuomo's insane Climate Leadership and Community Protection Act, New York has to move to 70% renewable energy by 2030, and 100% zero-emissions energy by 2040.
All the law and related policies will do is put ever-tighter squeezes on New Yorkers in pursuit of solar and wind energy and severely limit the available supply of power, boosting the risk of blackouts.
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