Wind and solar mandates are more way more expensive than the imaginary problem of global warming.
Conducted by University of Chicago economists, the study of 29 state renewable energy mandates reports that:
- Renewable energy mandates reduce CO2 emissions at the astounding price of between $130 to $460 per ton. This is like adding between $54.60 to $193.20 to the price of a barrel of oil.
- The cost of reducing CO2 emissions via renewable mandates is much more expensive than the so-called “social cost of carbon.” Enviro groups claim that social cost of carbon is about $40 per ton.
- Renewable energy mandates in the 29 states have reduced CO2 emissions by a mere 95 – 175 MILLION metric tons of CO2 after seven years. Annual manmade emissions of CO2 are about 53.5 BILLION tons per year
So there you have it: Renewable mandates are exceedingly expensive — even more expensive than the so-called “problem” — yet do nothing to solve the supposed “problem.”
You can read the full report here.