High cost of cancelling Green Energy Act
The Green Energy Act - brought in by the McGuinty Government in May 2009 - is being threatened by the provinincal progressive conservatives who characterize it as a misguided approach to energy production which leads to consumers paying vastly more for modest amounts of electricity. Their energy solution which is more focused on nuclear and natural gas, fails to look at all the negative effects of cancelling the Green Energy Act.
In an article in the Toronto Post, Tim Wohlgemut and Tim Weis discuss the benefits of the Green Energy Act. These benefits include:
- creating 80,000 person years of employment in the wind energy sector, $16 billion in new private sector investments
- creating 74,000 person years of employment in the solar energy sector, $13 billion in new private sector investments
- clean energy investments today will save homeowners money within about 15 years, as natural gas prices are forecast to start to rise (uncertainty about how quickly natural gas prices will rise)
- other costs for Ontario ratepayers, as more fossil fuels are burned = increased costs related to negative health impacts, air pollution and greenhouse gas emission