According to Larry Bell, a Forbes contributor, in many parts of the country the PTC actually exceeds the wholesale price of power. If that isn’t troubling enough, the non-partisan Joint Committee on Taxation concluded that between 2009–2013 industry developers lost near $14 billion in revenue.
Last month the American Wind Energy Association (AWEA), with the help of a bipartisan trio of governors in states that benefit heavily from the subsidy, held an event endorsing the tax credit. According to financial disclosures, AWEA has spent well over $3 million during the past two years influencing lawmakers.
Efforts from AWEA, the Sierra Club and other well-funded groups have garnered fantastic returns for green activists, but unfortunately, average Americans are stuck with the bill. The PTC is just another example of a “feel good” policy with a hefty price tag—one that America can’t afford.