Mackinac Center
The energy bill package being considered by the Michigan Legislature would cost ratepayers at least $200 billion with about half going towards corporate profits. It would exponentially increase the number of wind turbines and solar panels in Michigan, requiring utilities to build thousands more of these every year. The impact these policies will have on global climate change is essentially zero.
“The energy plan being pushed by the Michigan Legislature would raise electricity rates by potentially thousands of dollars per year for the typical ratepayer, with much of that going to profits for monopoly utilities,” said Jason Hayes, director of energy and environmental policy at the Mackinac Center for Public Policy. “It would litter the state with windmills and solar panels, often against the will of local communities, and virtually have zero effect on global climate.”
According to an analysis from the Mackinac Center, the “net zero” plan (Senate Bills 271-277 and House Bills 4759-4761) would:
- Cost a minimum of $200 billion. Economic modeling done by the Mackinac Center and Center of the American Experiment suggests that achieving these net zero goals will add $200 billion in costs for ratepayers.
- Result in huge corporate profits for Michigan’s monopoly utility companies. The energy overhaul is a huge boon to corporate profits — about half of this spending will be guaranteed profits to utilities and their shareholders.
- Have no effect on climate change. The nonpartisan Citizen’s Research Council recently pointed out that “it is not possible for Michigan to measurably mitigate climate change through state-level emissions-reduction policies.” Indeed, projections based on the Obama Administration’s Clean Power Plan suggest this legislation might reduce global temperatures by a mere 1/1000th of a degree by the year 2100.
- Exponentially increase the number of wind turbines and solar facilities. Michigan currently has about 3,500 MW of wind and solar generation capacity. The bill package would require utilities to average building more than that amount of capacity every single year for the next 16 year.
For more on the plan, see the Mackinac Center Video, here.
This analysis was reposted with permission of the Mackinac Center for Public Policy.
For more on Michigan energy policies, click here.