Pennsylvania's alternative energy mandates will result in higher energy costs, leading to lower incomes and less investment, and costing the state thousands of jobs, according to a new study from the Beacon Hill Institute at Suffolk University.
The commonwealth's Alternative Energy Portfolio Standard requires a set percentage of electricity generation to come from solar, wind and other specific "alternative energy" sources, phased in through 2021. The Beacon Hill analysis projects that this will increase electric bills by 12 to 15 percent, cost residents and businesses $16.3 billion more than conventional power (approximately $130 per resident), and result in in 17,380 lost jobs by 2021.
Our new Poli-Graph, "Bleeding Green: How Much Money will Pennsylvanians Waste on Alternative Energy Mandates?" highlights the costs of these mandates, which benefit a few politically-selected corporations at the expense of taxpayers, residents, and businesses.