exas city featured in Al Gore film lost millions in green energy investments

[Sunsettommy]

A small town failed on this "free energy pie in the sky" silliness.

American Thinker

Texas city featured in Al Gore film lost millions in green energy investments

December 21, 2018

by Rick Moran

EXCERPT:

A green energy scheme to supply a small town in Texas with 100% of its electrical needs via cheap solar and wind power is, instead, costing the city almost $7 million.

Georgetown, Texas was featured in the sequel to Al Gore's Inconvenient Truth as the "future" of American power generation. But falling fossil fuel prices are making the scheme ruinously expensive for the town.

LINK

 

[Billy_Bob]

Liberal fantasy land....

They are just now waking up to the fact they were scammed by the best scammer... Stupid is as Stupid does...

 

[Crick]

Bottom line drives Georgetown's switch to solar, wind power

Is a Texas Town the Future of Renewable Energy? | Innovation | Smithsonian

Georgetown’s energy 100 percent renewable with solar plant – City of Georgetown Texas

Texas City Leads The Way On Renewable Energy

Georgetown, Texas: Redefining Neighborhoods Through Renewable Energy

This is what America's eco city of the future looks like

American Thinker is about as accurate and unbiased an information source as was Mein Kampf.

 

[skookerasbil]

Bottom line drives Georgetown's switch to solar, wind power

Is a Texas Town the Future of Renewable Energy? | Innovation | Smithsonian

Georgetown’s energy 100 percent renewable with solar plant – City of Georgetown Texas

Texas City Leads The Way On Renewable Energy

Georgetown, Texas: Redefining Neighborhoods Through Renewable Energy

This is what America's eco city of the future looks like

American Thinker is about as accurate and unbiased an information source as was Mein Kampf.

Lol....you pea brain. Solar provides about 1.3% of American electricity! With wind, less than 5%!!

s0n....the science isnt transcending anywhere beyond it's own field! An indisputable truth.

You're side is lOsInG.....HUGE

Uncomfortable Truths About Climate Change, Carbon Taxes And Inequality

 

[Manonthestreet]

Saw an article today stating US will produce more oil than Saudis and Russians combined in near future.

 

[Sunsettommy]

Bottom line drives Georgetown's switch to solar, wind power

Is a Texas Town the Future of Renewable Energy? | Innovation | Smithsonian

Georgetown’s energy 100 percent renewable with solar plant – City of Georgetown Texas

Texas City Leads The Way On Renewable Energy

Georgetown, Texas: Redefining Neighborhoods Through Renewable Energy

This is what America's eco city of the future looks like

American Thinker is about as accurate and unbiased an information source as was Mein Kampf.

Did you even bother reading the link I posted?

"Georgetown Budget Manager Paul Diaz told city councilors in late November the utility had lost $6.84 million. City officials are looking for ways to make up the shortfall."

While they reach 100% renewable a few months ago, they lost MILLIONS!

 

[Wuwei]

The problem was not with the efficacy of renewable energy. The problem was a bad contract with Buckthorn solar plant and Spinning Spur wind farm. Georgetown agreed to buy energy at a fixed price well into the future. The contract included Georgetown buying twice as much as it needed and selling half back to the supplier at a fixed price. It was the the suppliers that won big with the economic benefit of renewables, not Georgetown.

Georgetown Utility Systems contracted to buy wind and solar at fixed prices until 2035 and 2043, respectively. Georgetown is obligated to buy about twice as much power as it actually needs from green power plants. The city is the first in Texas and the second-largest in the U.S. to go 100 percent renewable.

The idea was that Georgetown would have enough green power to grow into at fixed prices, avoiding market volatility and what it saw as the rising costs of fossil fuels. In the meantime, Georgetown would sell any excess power back to Texas’ electricity market.

But energy prices plummeted in recent years, particularly natural gas prices, meaning the city lost money selling power back to the market.

Putting solar panels on your home or office is probably a good bet. As long as you have reliable alternate fossil fuel sources to fall back on, your energy costs will probably be less.​

The lesson is not to make a fixed price contract many years into the future when it comes to energy, and to think you can profit by selling excess energy at a fixed price.