Michigan Law Review - Build Public Renewables, Again

Legal director Sandeep Vaheesan has published a book review of Brett Christophers’ book The Price Is Wrong: Why Capitalism Won’t Save the Planet.

This book argues that the profit-seeking logic of capitalism—particularly market pricing—stands in the way of meaningful renewable energy development. Christophers contends that private investors are reluctant to back large-scale solar and wind projects because the returns in competitive electricity markets are too volatile and uncertain.

Broadly agreeing with Christophers’ critique of wholesale electricity markets, Vaheesan express skepticism about their efficiency and fairness. The key complication introduced by Vaheesan is that the U.S. experience with renewables shows that market pricing alone hasn't fully blocked solar and wind deployment. While market failures exist—especially around price signals, grid access, and reliability—renewable energy has expanded in many U.S. regions under market-based regimes, thanks to tax credits, mandates, and other public policy tools.