Gordon Tomb, relates some recent findings by the Manhattan Institute; findings demonstrating natural gas outshines solar and blows past wind in practicality.
Natural gas, not alternative sources, is by far the best investment for the production of electricity, according to a recent report by the Manhattan Institute.
According to the report, investing in a drilling rig will produce enough natural gas to generate 16 times as much electricity as the same amount invested into solar panels and 8 times as much for the same investment in windmills:
“At today’s costs, $1 million invested in a modern wind turbine will produce, over 30 years of operation, about 50 million kWh (kilowatt-hours). And $1 million spent on utility-grade solar panels will produce about 25 million kWh over 30 years. Meanwhile, $1 million spent on a shale rig will produce enough natural gas to generate 400 million kWh over the same 30 years”
These numbers should give pause to policy makers inclined to dump more taxpayer subsidies into solar and wind or to discourage investment in gas development with abusive taxes and unnecessary regulations.