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GREEN ENERGY State ballot board OKs group’s pursuit of borrowing funds



Published: Tue, July 15, 2014 @ 12:05 a.m.

By Marc Kovac

news@vindy.com

COLUMBUS

The state ballot board again has given its approval for a group to pursue a constitutional amendment seeking about $13 billion in state borrowing to pay for the expanded use of green-energy innovations.

The entire meeting Monday took about three minutes and was accomplished with one of the panel’s lawmaker members absent.

Yes for Ohio’s Energy Future wants to direct the Legislature to issue $1.3 billion in general obligation bonds annually over a 10-year period. The proceeds would pay for “energy infrastructure capital improvement” including “solar, wind, biomass, battery technology and geothermal facilities.”

That would include research and development activities and commercialization efforts.

Backers of the Ohio Clean Energy Initiative submitted their original proposed amendment in early 2012, then edited the language and restarted the process in November 2013.

A third version was rejected by the attorney general earlier this year, but the latter certified a fourth version earlier this month.

And that prompted the ballot board’s meeting, where members agreed that the proposal could move forward as a single issue. There was little in the way of discussion Monday, with none of the petitioners or members of the public or the board offering comments.

With the ballot board’s action, Yes for Ohio’s Energy Future can begin circulating petitions and collecting signatures. The group will need more than 385,000 valid names in order to qualify for the ballot.

The deadline for this year’s general election passed earlier this month, so the earliest the amendment could be placed before voters is 2015.


Comments

1Jerry(521 comments)posted 5 months, 2 weeks ago

What is not said here: The Ohio Energy Initiative Commission — a limited liability company registered in the state of Delaware — would decide how the money would be spent without help from state lawmakers.

An LLC registered in Delaware will decide how to spend the money without regard to the Ohio Legislature.......WHAT COULD POSSIBLY GO WRONG WITH THIS??!!!

Can anyone point to a specific example of a solar or wind project in Ohio that can produce enough electricity to pay for itself (return the original investment) by selling electricity at market rates?

Can anyone point to a specific example of a solar or wind project in Ohio whose original investment could NOT have been spent more wisely in other ways.........ways that would have produced more reliable electricity and, at the same time, reduced pollution and CO2 emissions more effectively??

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