‘Follow the Yellow Brick Road’ is such a wise phrase from The Wizard of Oz and so pertinent today…Just change yellow to green! Review the chart above, to see the average monthly cost of a renewable energy mandate, to Ohioans and our industry. Does this added expense make our industry MORE competitive with other states and foreign countries? NO Does this added expense raise the cost of living for our residents? NO Does this added expense raise the likelihood that our industry will INcrease their hiring? NO. Read an excerpt below, that states the most obvious reasons why our legislators could not continue to give BigWind significant ADvantages to build in our great state. Bravo to our legislators….
…The Study Committee heard testimony from Ryan M. Yonk, Ph.D. of Utah State University. Dr. Yonk, along with five individuals from Utah State University, published a comprehensive report in April 2015 entitled “Renewable Portfolio Standards: Ohio.” That report concluded that Ohio’s renewables mandate will lead to the following:21
- Significant increases in fiscal and economic costs between now and 2026
- A $1,920,000,000 burden on Ohio ratepayers
- A $52,000,000 decrease in investment
- A decrease in personal disposable income of $258 million in 2026
- An increase in the unemployment rate by 10%, which equates to 29,366 jobs
The Study Committee did not receive any definitive data from the PUCO on the projected future costs of the energy efficiency and peak demand reduction mandates. In a letter from the PUCO to the Study Committee dated September 14, 2015, the PUCO stated that they do not currently have the capability to independently forecast the costs of implementing the energy efficiency mandates in future years with a high level of significance….