Obama green economics at work. You can’t make this stuff up.
Bayonne’s windmill should be spinning by the end of the week, a city official said yesterday.
One of the transformers at the East Fifth Street pumping station sustained water damage after Hurricane Sandy struck on Oct. 29, and the station’s wind turbine has been down for the count ever since.
The transformer should be replaced today and will be powered up before the end of the week, Municipal Utilities Authority Executive Director Stephen Gallo said yesterday.
The $5.6 million windmill, paid for in large part by grants, helps power the station that pumps city sewage through Jersey City and on to the Passaic Valley Sewerage Commission treatment facility in Newark.
Bayonne previously spent $200,000 to power the station. Depending on wind velocity, the turbine, which became operational in June, will shave upwards of two-thirds of that cost, Gallo said.
The windmill cost $5,600,000 and worked for four months before a tropical storm wrecked it. They anticipate that when functional it will save $150,000 per year. That means it will only take 37 years to pay for itself.
On the other hand, had they put that $5.6 million in the bank at 5% interest, it would be worth $34 million in 37 years – which would pay for 170 years of electricity. Not to mention the fact that the windmill won’t last anywhere near 37 years, it will kill thousands of birds, and that a major hurricane (the new normal) would completely destroy their investment.
h/t to Dave G