Saturday, October 9, 2010

Ontario's insane green energy policy

Terence Corcoran outlines how Ontario's Green Energy Act (courtesy of George Smitherman) is causing  power prices to skyrocket:
... IKEA announced yesterday it will invest $4.6-million to install 3,790 solar panels on three Toronto area stores, ...  enough electricity to power 100 homes.

IKEA will receive 71.3¢ for each kilowatt of power produced, which works out to about $6,800 a year for each of the 100 hypothetical homes. ...  overpaid by $5,400 per home equivalent.

... will recoup $4.6-million in less than seven years — not bad for an investment that can be amortized over 20.

... The government’s schemes suggest that reducing Ontario carbon emissions by say 20% to 12 tonnes would cost $5,000 per person or upwards of $15,000 per household per year.
Meanwhile, China's annual increase in energy consumption is nearly as high as Canada's (and 2.5 times Ontario's) total consumption. I hope Ontarians realize how much their sacrifices are helping to heal the planet.

Lawrence Solomon: Brits to pay $3200 per year for power bill. Ontarians take note


Anonymous said...

Plus they could have imported much cheaper Quebec hydro energy, but they weren't interested because this would not create 'Ontario' jobs. Officials at Hydro Quebec can't believe how stupid Ontario was.

CanadianSense said...

Organized crime loves these "green" FIT programs.

The mafia has many Giant Fans collecting on the CAGW-Green Agenda.

Thank you Gore-Suzuki supporters.

johndoe124 said...

I think what IKEA is doing is patently unethical. If they were making money at market rates, more power to them, but what they're doing is getting rich on the backs of taxpayers and ratepayers through obscene subsidies. Probably a good business decision since they'll make money but it's hardly more ethical than theft.

JR said...

I wouldn't doubt IKEA genuinely believes they're helping McGuinty save the planet and making a few bucks is just the icing on the cake. But they should be feeling guilty that they're helping to wreck the economy.

David O'Brien said...

Well here in Vermont where we have many folks who support alternative energy, "public interest" groups, renewable energy developers and the like we unfortunately ended up with a feed in tariff program that requires developers to be paid based on their cost to produce by technology like solar, wind, biomass etc. Our top price rings out at about 30 cents per kwhr.

However, we have had a long and positive relationship with the Province of Quebec and HQ. Our utilities recently signed a 26 year agreement to buy base load hydro from HQ starting at 6 cents. Central to this relationship is our designation of large hydro as renewable.

So as our peers in government clamor to pay 20 cents a kwhr and up for off shore wind, solar etc. in the name of the environment and green jobs, we will quietly go about our business providing our economy with competitively priced, reliable and clean power.