Clean Energy’s Dirty Secrets

Presenting the administration’s Clean Power Plan, EPA administrator Gina McCarthy admitted it was not about pollution control. “It’s about investments in renewables and clean energy,” she told the Senate Committee on Environment and Public Works in July. “This is an investment strategy.” The president’s favorite corporate-tax inverter has a different take on the nature of the investment opportunity. “We get a tax credit if we build a lot of wind farms,” Warren Buffett told Berkshire Hathaway’s investors. “That’s the only reason to build them. They don’t make sense without the tax credit.” While wind investors hoover up the $23 production tax credit per megawatt hour (MWh) of electricity produced, the real costs of intermittent renewables such as wind and solar are many times greater. And they’re not even good at what they’re meant to do — reduce carbon dioxide emissions.

http://www.nationalreview.com/energy-week/388619/clean-energys-dirty-secrets-rupert-darwall