Surprising last week was a commentary rearguing legislation signed five years ago. The 2020 Virginia Clean Economy Act was opposed by those not wanting to shift away from coal and natural gas as primary energy sources to produce electricity. With the perspective of five years, it is remarkable to continue to read about opposition to developing more solar, wind and other renewables. In these last five years, the number of severe storms, hurricanes, wildfires, and tornadoes have been increasing, destroying lives and costing billions of dollars – all related to the release of carbon dioxide from coal, gas, and oil. Has anyone forgotten the flooding from Hurricane Helene that did so much damage locally? 2024’s disasters in the U.S. cost about $182.7 billion to the U.S. according to the U.S. Office of Coastal Management – numbers we shouldn’t ignore. Arguing for increasing reliance on fossil fuels – particular coal – can only be understood in terms of partisan politics. No other nation separates its major political views on the basis of need to reduce its use of fossil fuels – it’s inexplicable that we do it here.
Study after study documents that using coal costs much more than renewable energy. Costs for renewables and energy storage have plummeted over the past five years – again confirming that the 2020 Clean Economy Act helps Virginians. Yet another advantage to renewables is that they produce good jobs. Of course, making a change can have an initial cost. Everyone used to drive cars averaging about 15 miles per gallon – many new cars now easily drive upward of 30 miles per gallon. Arguing that we should keep 15 miles per gallon cars just because we are familiar with them (and they look cool) makes no sense. But replacing them could be expensive, so there would be an initial cost. Investing now in renewables clearly will reduce costs compared to continuing reliance on fossil fuels – recent history makes this very clear. It is nothing but wishful thinking that gasoline will somehow cost less than $1 gallon to make driving that old car affordable – no less wishful thinking is that coal will somehow become an affordable way to produce power.
As we consider future power costs, the very recently passed APCO Rate Reduction Act should reduce our power bills for the next couple of years. Everyone should like a lower bill. This act reduces bills by allowing costs associated with two coal fired power plants, and repairs to damage caused by Hurricane Helene, to be paid over time by allowing the utility to sell bonds. These bonds essentially are loans and will need to be paid back – with interest. This means that our bills will be higher in the future. No one will like that. Do we really want a reduction now that results in a larger increase later? Do we want to increase costs to our kids as they become independent and need to pay for electricity in their own homes? The faster we move to renewables, the faster long-term costs will be reduced. It’s that simple. Let’s celebrate the Virginia Clean Economy Act – rather than playing partisan political games.
Gary Silverman Columnist
