Kelsey Grammer: Windmills were the worst thing that actor Kelsey Grammer invested in, he said recently.
Kelsey Grammer recently spoke of the worst investment he’s ever made.
The “Fraiser” actor told celebrity news website TMZ that he lost an undisclosed, six-figure amount when he invested in wind power.
“Big wind is doing OK but small wind isn’t and it cost me a lot of money—it’s got six figures,” he was quoted as saying in Beverly Hills on Tuesday. He added, “’Investing in windmills. You’d think it would be lucrative, but it’s not really a friendly environment for new technology, it really isn’t.”
He said, “It’s just one of those things that’s just a straight loss,” elaborating that there is likely no chance he will be able to get his money back.
However, despite the bad investment, Reuters reported on Wednesday that the U.S. wind industry saw “record-breaking growth” last year.
The industry produced more than 10 percent of the electricity used in nine states, which was up from five states in 2011. Iowa derived 24.5 percent of its energy from wind and South Dakota got 23.9 percent, according to the news agency.
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