Calpers: ‘We have dialed back on clean energy’; 10% annualized losses since 2007 | JunkScience.com
Well, for Calpers, clean-tech investing has got an L-curve for “lose.” Our experience is this has been a noble way to lose money
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If you are in California, think about what that means. When CalPers loses money, the shortfall has to be made up by tax payers so you pay for clean-tech losses in your tax bill. Then you pay again in your electricity bill as the states tries to mandate as much as 30% renewable energy based power by 2020 leading to some of the highest electricity rates in the nation. Finally the California Air Resources Board charges you again for the fossil fuel used with its new Cap and Trade system. Climate change IS really expensive in the golden state.
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