Dominion Energy’s decision to build a gigantic windfarm and have net zero emissions by 2045 is a political ploy rather than a well-developed business decision. Why do I say that? First, Dominion buys bi-partisan political support in the General Assembly, as if it was needed. Second, it now gets broad support from the environmental community. And, if it flops, as it is likely to do, rate payers will be left holding the bail-out bag.
Dominion plans to site over 200 windmills 27 miles off of the coast of Virginia. The area occupied will be about 176 square miles, which is three times larger than Richmond and about the size of Clarke County. The current cost estimate for this project is $7.8 billion, but that will certainly increase.
By committing to a project of this size, Dominion is freezing innovation and putting its transmission grid at risk. The cold spell that is gripping the U.S. reveals a major vulnerability of wind and solar as well as the vulnerability of the grid. Continue reading