Tuesday, December 2, 2014

Wind Subsidies = Eternal

"The nearest thing to eternal life we will ever see on this earth is a government program."
                                                 -- Ronald Reagan

‘Tax credits have been essential to the economic viability of wind farms so far, but will not be needed within a few years.”  -- Christopher Flavin, now president emeritus of the Worldwatch Institute—in 1984.

Some background information on the wind power tax subsidy:
Wind-power capacity has increased by nearly 5,000% since the PTC was created and the industry now makes billions of dollars in annual revenue. Meanwhile, the credit has devolved into another example of corporate welfare.
Over the past seven years, the PTC has cost taxpayers $7.3 billion, and it is expected to pay out $2.4 billion more in 2015. Combined with other subsidies and programs, wind generators received $56.29 in government subsidies per megawatt-hour in 2010, according to a 2012 report from the Institute for Energy Research. That’s compared with 64 cents in subsidies for natural gas and $3.14 for nuclear power.
For the record, I am against all of these subsidies. We may need government R&D for second generation nuclear but that is quite different than ongoing subsidies. 

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