A controversial $2.5 B wind farm planned off the shores of Cape Cod is touted by supporters as a way to jumpstart the state's green economy. Beth Daley argues the project was rushed to the drawing board despite not making economic sense.
Proponents like Deval Patrick point to future energy cost savings as a rational for the project. Daley argues that while those savings may have existed before the recession, plummeting fossil fuels prices mean the wind farm now seems 'forbiddingly expensive' compared to traditional fuel sources. The energy Cape Wind produces will also be pricey compared to other renewable sources, costing 50 percent more than energy from land-based wind farms and twice as much as energy from hydroelectric dams.
Daley says that the project is a win for a Governor eager to make his mark on green energy:
"The arresting idea of a new energy source for power-starved New England was seized upon by Deval Patrick during his gubernatorial campaign. Then, after he won election in 2006, his administration helped engineer a sweeping overhaul of state policies that eased the path for the controversial proposal They were focused on making Cape Wind happen; they didn't worry nearly as much about the cost."
FULL STORY: Cape Wind Backers Blew Right By Cost
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City of Albany
UCLA Lewis Center for Regional Policy Studies
Mpact (formerly Rail~Volution)
Chaddick Institute at DePaul University
City of Piedmont, CA
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research