Earlier quoted context omitted.
Right, the heat pump will reduce energy use to maybe 1/3 of a gas furnace, but natural gas is something like 6x cheaper for the same amount of energy, so it is an expensive folly. If California is serious about this, they need to reign in the utilities to reduce prices and or stop the attacks on solar installation.
> If California is serious about this, they need to reign in the utilities to reduce prices and or stop the attacks on solar installation. Why do you think electricity prices are high?
Why do you think electricity prices are high?
Because PG&E:* spent billions over the past few decades on stock buybacks
* spent billions on fines and restitution for malfeasance like falsifying call-before-you-dig records
* spends tens of millions annually on stock dividends (down from billions annually pre-bankruptcy)
* used their safety budget to pay executive bonuses
* stacked the CPUC in their favor
* rakes in billions in profit (roughly $1/share EPS) annually