Bailing out green energy
The Inflation Reduction Act (IRA) includes hundreds of billions of dollars in subsidies for green energy, yet now renewable developers want utility rate-payers in New York and other states to bail them out. According to a report late last month by the New York State Energy Research and Development Authority (Nyserda), large offshore wind developers are asking for an average 48 percent price adjustment in their contracts to cover rising costs. The Alliance for Clean Energy NY is also requesting an average 64 percent price increase on 86 solar and wind projects. The IRA includes ...