NewEnergyNews: QUICK NEWS, October 24: Climate Change Now Costs U.S. Hundreds Of Billions – GAO; Empire Wind To Rise Off Long Island; Big Benefits To New Mexico From New Energy


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    Tuesday, October 24, 2017

    QUICK NEWS, October 24: Climate Change Now Costs U.S. Hundreds Of Billions – GAO; Empire Wind To Rise Off Long Island; Big Benefits To New Mexico From New Energy

    Climate Change Now Costs U.S. Hundreds Of Billions – GAO Climate change already costing U.S. billions, GAO report says

    Michael Biesecker, October 23, 2017 (Associated Press via Chicago Tribune)

    “…[The non-partisan federal Government Accountability Office (GAO) says climate change has already cost U.S. taxpayers $350 billion over the last decade,] with those costs expected to rise as devastating storms, floods, wildfires and droughts become more frequent in the coming decades…[The GAO report] does not include the massive toll from this year's three major hurricanes and wildfires, expected to be among the most costly in the nation's history…[Climate change costs could reach] $35 billion a year by 2050…[but the GAO found] the federal government doesn't effectively plan for these recurring costs, classifying the financial exposure from climate-related costs…The report says the fiscal impacts of climate change are likely to vary widely by region. The Southeast is at increased risk because of coastal property that could be swamped by storm surge and sea level rise. The Midwest and Great Plains are susceptible to decreased crop yields…[and the] west is expected to see increased drought, wildfires and deadly heatwaves…” click here for more

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    Empire Wind To Rise Off Long Island Wind energy project off LI to be called Empire Wind

    Mark Harrington, October 23, 2017 (Newsday)

    “…The name of the first wind-energy array off Long Island’s South Shore will be distinctly New York: Empire Wind…[Developer] Statoil, which is two-thirds owned by the Norwegian government, won the bidding to develop 79,000 acres of ocean off Long Island through a federal auction in December 2016. Statoil’s bid was $42.5 million, besting New York State, the second-final bidder…New York State this month identified more than 1 million acres of offshore waters for future wind arrays for at least four additional wind farms beyond the Statoil project…For Empire Wind, the tentative plan is to erect 80 to 100 turbines 14 miles south of Long Beach and extending south-eastward…[When fully developed, the] project would produce up to 1,000 megawatts of energy but it will require more than 20 federal and state permits before it can even begin to move toward construction, in 2021. Statoil expects it to be operational by 2024…LIPA has already contracted for a 90-megawatt wind farm off the coast of Rhode Island, between Block Island and Martha’s Vineyard, requiring a 50-mile connection to supply power primarily to the East End. LIPA hopes that project, by Deepwater Wind, will be completed by the end of 2022…” click here for more

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    Big Benefits To New Mexico From New Energy New Mexico’s ‘Energy Crossroads’: Report Makes Case For More Renewables

    Joseph Bebon, October 23, 2017 (Solar Industry)

    “…[Significantly increasing New Mexico’s share of electricity from solar and wind would spur job creation, improve public health and benefit the environment…[and is the state’s cheapest option even though its] largest utilities continue to plan for long-term investments in natural gas expansion…[According to Committing to Renewables in New Mexico Boosting the State’s Economy, Generating Dividends for All,] New Mexico’s remaining coal plants are facing strong market pressure to retire early due to unfavorable economics…[and, in 2016,] renewables accounted for 14% of New Mexico’s electricity production…[Earlier] this year, the New Mexico legislature proposed [but did not approve] strengthening the current [20% by 2020 RPS] to 50% by 2030 and 80% by 2040…[W]ith a strengthened RPS, New Mexico would nearly triple its 2016 wind capacity and more than double its 2016 solar capacity by 2030. This increased capacity would result in more than $6 billion in capital investment; nearly 2,400 new jobs in construction, operations, maintenance and other related fields by 2030; $21 million annually in state and local tax revenue; and as much as $9.5 million annually in land-lease payments…[and] typical monthly electric bills for households in most years would be lower than they were in 2016…” click here for more

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