fbpx

Latest Posts

Home

Facebook

Twitter

Search
About

Doubling Down on Failure Fact Sheet

Minnesota currently has a law mandating that 25 percent of the state’s electricity come from renewable energy sources, like wind and solar, by 2025. Some lawmakers have proposed doubling the renewable energy mandate (REM), requiring that 50 percent of our electricity be generated by renewable sources by the year 2030, and Governor Walz has proposed a 100 percent carbon-dioxide-free electric grid by 2050.

This report chose to calculate the impact of a 50 percent REM, rather than a 100 percent REM, because research from the Massachusetts Institute of Technology shows using wind, solar, and batteries to achieve 100 percent of electricity generation would be exponentially more expensive than a 50 percent renewable benchmark.

Enacting a 50 percent renewable energy mandate by 2030 would:

  • Increase electricity costs by $80.2 billion through 2050 and have negligible environmental benefits.
  • Cost of energy would cost each Minnesota household $1,200 per year, every year, through 2050.
  • Cause electricity prices to increase an average of 4.18 cents per kilowatt hour (kWh), a 40.2 percent  increase relative to November 2018 prices.
  • Increase household electric bills by $375 per year, a 32 percent increase compared to 2017.
  • Force the Edina school district to lay off 10 teachers to make up for higher electricity prices. Edina schools use 13.8 million kWh of electricity every year. Increasing the price of electricity by 4.18 cents per kWh would result in increased electricity costs of approximately $576,425. Edina would have to lay off more than 10 teachers making $56,000 per year to pay these higher electric bills or raise property taxes to keep them on staff.
  • Destroy 20,950 jobs by 2050 and reduce Minnesota’s GDP by $3.1 billion every year to create temporary construction jobs.
  • Harm energy-intensive industries, such as agriculture, healthcare, manufacturing, and mining, the most.
  • Reduce future global temperatures by 0.0006 degrees C by 2100, an amount too small to measure.

In contrast, Minnesota could achieve the same reduction in carbon dioxide emissions by building new nuclear power plants for far less cost. Utilizing Minnesota’s existing coal-fired power plants would save Minnesotans $7.5 billion through 2050 and create 1,500 jobs.

Comments

Subscribe

Categories

Upcoming Events

  • Morning in Minnesota Breakfast Series: Winona

    Location: Signatures Restaurant, 22852 County Road 17, Winona, MN 55987

    Please join Center of the American Experiment Friday, March 6 at Signatures for a FREE breakfast with economist John Phelan.

    Register Now
  • Lunch Forum with Amity Shlaes

    Location: Hyatt Regency Minneapolis 1300 Nicollet Mall Minneapolis, MN 55403

    Buy tickets for March 2nd HERE. About This Event: Enjoy our Early Bird Ticket Special through February 23rd! After this date, ticket price will increase to $30. Doors open at 11:30 AM, program and lunch begin at Noon. In Great Society, the New York Times bestselling author of The Forgotten Man and Coolidgeoffers a stunning revision of our last great period of idealism, the 1960s, with burning relevance for our contemporary challenges. Today, a battle rages in our country. Many Americans are attracted to socialism and economic redistribution while opponents of those ideas argue for purer capitalism. In the 1960s, Americans…

    Register Now
  • 2020 Annual Dinner Featuring Sarah Huckabee Sanders

    Location: Minneapolis Convention Center Ballroom 1301 2nd Ave S Minneapolis, MN 55403

    American President: The Unorthodox Approach to Politics that Changed the World. Sarah Huckabee Sanders served as White House Press Secretary for President Donald J. Trump from 2017 to 2019. A trusted confidant of the President, Sanders advised him on everything from press and communications strategy to personnel and policy. For two and a half years, Sanders was at the President’s side, battling with the media, working with lawmakers and CEOs, and staffing the President on every foreign trip, including dozens of meetings with foreign leaders. Sanders is only the third woman and the first mother to hold the job of…

    Register Now