The next time some paid troll whines about coal getting government subsidies, and wind and solar being “pure” show them this.
From the Washington Times:
By Stephen Moore
One of Hillary Clinton’s wackier ideas is to build half a billion solar panels — at taxpayer expense. It would be one of the largest corporate welfare giveaways in American history. The Institute for Energy Research (IER) estimates that the cost of the plan will reach $205 billion. That’s a lot of money to throw at Elon Musk and all of Hillary’s high-powered green energy friends.
By the way, there are only 320 million people in the country so her plan would mean more solar panels than people. If Hillary has her way, the entire landscape in America will be blighted by windmills and solar panels. How is this green?
The economics here are even worse. Back in the 1970s Washington made a big bet on green energy with synthetic fuels and renewable fuels. The programs crashed and were all mercifully killed off during the Reagan years. Billions of dollars went down the drain. George W. Bush made a big bet on switch grass and wood chips to produce energy. President Obama has spent more than $100 billion on wind and solar subsidies. Instead of energy independence, we got bankruptcies like Solyndra.
A lesson of the last several decades is that the government has a horrible record of intervening in energy markets. Mr. Obama was running around the country in his first term warning that America was running out of oil. He wasn’t paying attention to the shale oil and gas revolution and the advent of clean coal technology that overnight doubled our fossil fuel resources. At the very time that natural gas prices were falling to $2 per cubic million feet, the government was trying to force feed the nation on wind and solar power which costs three to five times more per kilowatt hour of electricity.
h/t Dr. Roy Spencer
Here is the source of the data for the graph: https://www.eia.gov/analysis/requests/subsidy/pdf/subsidy.pdf
Update: Clinton’s plan looks like a big subsidy and tax credit handout. See more in this fact sheet. Graph below:
“Hillary Clinton’s solar plan will cost more than $200 billion above and beyond current projections,” according to an analysis by the free market Institute for Energy Research (IER).
“But the true cost of the plan is much higher, especially when the costs of adding this much solar power is considered,” IER reported. “Making matters even worse, electricity demand is not projected to grow enough that this new generating capacity would be needed, making Clinton’s plan even more wasteful.”