NOTEBOOK – ONE GOOD READ: Green energy’s big looming problem is red tape
BPC Staff Jun 21, 2022 | 7:28 pm
1 min read time205 wordsAll Latest News, Energy & Environment, The Insider Notebook
Wind turbines are now built into the Iowa landscape, and I think they add a nice height to our rolling plains. I learned from this Wall Street Journal article that with costs to install wind and solar energy declining 72% and 90%, respectively, in the last 13 years, production has increased sixfold in the same time period. But key to lowering costs were low interest rates and low input costs that are now reversing in light of higher inflation and supply chain challenges. Having high natural gas prices too is bringing power purchase agreements and locked-in energy prices back onto the scene for the first time in a while, the article says. The problem is getting projects started as there is a backlog of about 1,200 projects, mostly for renewable energy, that are making interconnection requests. The largest electrical grid operator in the country put a two-year moratorium on such requests to attend to the backlog. The rapid growth of renewable energy is also adding pressure to build more transmission lines that are necessary for solar and wind use to expand. The annual average of built-out lines was 700 miles between 2017 and 2021, down from an average of 2,000 miles between 2012 and 2016.