Change continues to spread across the renewable energy industry at an unprecedented rate. As it is, the government is a significant player in ensuring this vision comes to pass.
Part of this process involves the Senate’s decision to provide f funding to States, facilitating the shift to Renewables. An example includes the county of Granite Falls, which anticipates receiving close to $2.75 million in terms of state funding. The state plans to channel the funds to replace a worm out hydroelectric turbine and support necessary repairs due on the plant
The request is still undergoing approval at the local government’s stage. However, a look into the process shows that the project has a high chance of approval. Local governor, Tim waltz is the final stage left to ensure the project becomes a possibility. However, previous hearings over the bill did not get the governor’s direct hearing but managed to get a representative.
The state has a renewable energy fund set aside for such projects received from other projects. The state government managed to acquire continuous funding from nuclear energy projects in the region to finance the renewable energy fund
According to legislative maneuvers, the state reserves are required to finance potential renewable energy projects. The granite falls request taps into this find by researching ingenious methods of generating renewable energy including hydroelectric power
However, word from the town’s Mayor David Smiglewski relays the reason behind the new planet was the decommissioning of a previous coal mining plant in the Minnesota valley run by Xcel Energy.
The plant is hardly operational these days has been operational for a dozen years now. However, looking at the paperwork for the plant, city officials noticed that the plant’s new state warranted a fully retired in place tag. This decision was implemented by the state government to reduce funding allocation for the plant to remain operational
However, the city still gets funds from the site despite its decommissioned state. Each year the plant provides $112570 to the city in terms of property taxes. The mayor reports that repurposing the plant leads to added losses on the city
To compensate for the reduction in incoming funds, the city plans to increase its budgetary allocation to general funds by $100,000. The newly estimated funding point is $325,000 in 2020
While the project has not yet received a green light to commence operation, the team behind the project are confident that the process goes on as planned