Let Someone Else Pay for Your Renewable Energy
Jun 21, 2009 – Jonathan Fahey writes the article, “Free Juice! Renewable energy looks good when someone else is paying for it” in the June 22, 2009 Forbes Magazine. As readers of this blog know, wind power still doesn’t make economic sense. So why install it at your business except to do your part to save the earth? Brian Driscoll is installing a wind power system at his business in Connecticut for a cost of $500,000. Since there is very little wind there it will only pay back $30,000 per year. BUT, his company is getting a $263,000 grant from the Connecticut Clean Energy Fund plus another $150,000 from President Barack Obama’s renewable energy program. Thus, his outlay is only $87,000. Thus, he will have a 3 year payback thanks to our tax dollars at work. So even though his plant is not in a windy area it makes economic sense. Check the grant money available in your area and don’t get put off by just the installation costs until you check out how much grant money and tax credits are available. Please leave your comments here concerning your own situations.
