Sadly, our blog has been remiss in putting much up about the Renewable Energy Bill. And there is much to be concerned about. $50 per residential account annual increases, up to $500 per business account in power bill increases. And all of this in a bill crafted by environmentalists and the utility companies. It is indeed a great time to buy stock in the industry.
Environmentalists may be chagrined to learn that the bill not only accepts, but promotes having wood fired power generation (the worst possible pollution) even with the best technology.
The republicans are missing the boat by promoting tons of new regulations and billions in cost to North Carolinians. This bill is arduous, complex and will not save one gallon of foreign oil. It received broad bi-partisan based support in the senate without a fiscal note even attached to it. To date, nobody can say how much this will cost taxpayers who will pick up the tab for all government building bill increases.
It also does nothing to promote energy efficiency. One has to wonder why such a bill even exists or how anyone, especially folks who call themselves conservatives could support it. This may be in excess of $3 billion in new costs for North Carolinians with zero new benefits.
