Renewable energy pays off in the long run, employs workers today - perfect for government stimulus.

Date:   1/23/2009 10:14:43 PM ( 15 y ago)

I don't know if it will happen or not, we will find out in the coming months as the U.S.A. and Canada produce their economic stimulus packages to prop up the slumping economies.

It is a no-brainer to me that they should be putting boatloads of money into renewable energy projects such as wind, solar, and wind/tidal electric generation. This would not only reduce the CO2 emissions that are causing global warming [and thereby saving money on future storm and other climate change damages], but it will definately be a good economic investment.

The dollars put in will be returned many times over during the lifetime of every one of these installations. For example, a typical wind turbine that generates electricity will pay for itself in about 7 years or less and then it will continue to produce electricity for another 10 or 15 years, and that electricity is going to be all PROFIT [minus a small portion for maintenance, but these things need very little maintenance over their lifetimes ; they come with a gaurantee to produce at least 80% of their rated output for 20 years!!]

There will be immediate employment in manufacturing and the electrical construction trades.

The reason that private investors are not lining up to build wind and solar farms is the 7 years that these projects typically takes to pay for itself. The standard model for R.O.I. has been 3 to 5 years, and that is about what most oil and coal investments can expect, especially when it comes to building electric power plants.

Renewable energy's economic profile is "more money in the long run, less in the near term". That makes it perfect for a government investment.

This is a good role for government - to do something that will benefit everyone [cheap electricity in the future ; reduced emissions] that private and market forces cannot or will not do.

Electrify the economy, President Obama and Prime Minister Harper!!



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Humour - if they build a high-speed superhighway across America, like the Autobahn in Germany, will they call it the AUTOBAMA?



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Update [Jan 27, 2009] - Obama appears to be putting up money for renewable energy projects ; Canada does not [budget came out today].

 

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