Seen in the Courant:
Although monthly customer bills don’t show it, 5 percent of electricity delivered by Connecticut Light & Power and United Illuminating this year must be generated from renewable sources such as wind, water or the sun. The requirement is set to go up every year until 2020, when it reaches 20 percent.
The aggressive policy in Connecticut, combined with similar requirements in neighboring states, is sparking an unprecedented demand for renewable power in the region. The idea is to prod alternative sources of electricity to spring up as all consumers pay more for the extra benefits of clean generation.
But even with a rush of proposals and widespread political support, there is a growing debate over whether the fledgling and disparate alternative energy industry can meet the rising requirements. Even at this year’s level, some say it’s a struggle.
The article goes on to mention that if the utilities fail to meet those goals, there are fines (passed on to electrical customers) which are supposed to fund the Connecticut Clean Energy Fund. The CCEF is supposed to develop alternative power sources, but so far hasn’t broken ground on any significant project. The odor of scandal wafts around the entity, and efforts are hindered by NIMBYism, apparently.
Hmmm… perhaps the CCEF is under orders to bite off more than it can realistically chew. Subsidizing residential or commercial PV installations could be considered (assuming there’s enough PV cell manufacturing capacity). Perhaps Citizenrē would entertain being approached by a potential franchisee?
Anyway, this problem of the apparent impossibility for utility companies to meet legislated hurdles, of money earmarked for green purposes failing to produce any green results…well those are elements fueling my interest in a publicly-owned green-oriented venture capital entity.