By Post Editorial Board
New York state’s insane renewable-energy plan is starting to implode, and the sooner Gov. Kathy Hochul and other leaders admit the truth, the better.
On Thursday, the state Public Service Commission nixed a request for vastly greater subsidies — about $12 billion worth — for 90 alternate-power projects that are supposed to provide a quarter of the state’s electricity.
That would have doubled public support, most likely meaning huge increases for ratepayers in a state where power already costs far above the national average and rates are even now rising to help pay for this “transformation.”
The companies involved say they’re facing far higher costs, thanks to inflation, supply-chain issues and other developments since they inked the original deals.
Many, likely most, will now look to exit.
Hochul, meanwhile, released a new “10-Point Action Plan” that rhetorically doubles down on the state’s commitment its goals but doesn’t hold a hint of how to pay for it.
The state’s 2019 Climate Leadership and Community Protection Act requires cutting fossil-fuel emissions 40% by 2030 and 85% by 2050.
Solar and (mostly offshore) wind plants are supposed to replace that electricity.
New York State plans on using wind-turbines to decrease use of fossil fuels.
Plus, New York wants everyone switching to electric cars, electric heat and electric cooking, so these green dreams require even more growth in electricity generation.
Again, the PSC’s (wise) ruling means the wheels are coming off the entire alternative-energy scheme.
Fishermen, activists protest offshore wind farms near Montauk, cite recent whale deaths
Nor is that the only blow.
For example, part of the supply-chain issue is the utter lack of ships that can actually build the vast fields of offshore wind towers that New York’s leaders want.
The only vessels with that capability are foreign-flagged, and so prohibited under the federal Jones Act, a sacred cow for the American labor movement.