Wind Energy Lives And Dies By Its Subsidies
With Republicans in control of the House, the likelihood that the production tax credit will be extended beyond this year. And, with history as our guide, that pretty much guarantees a halt to windmill construction.
Which is what this chart from Real Clear Energy Shows:
Before 2005 the wind energy tax credit had to be renewed on a yearly basis. In 2005 it started being renewed for two years at a time, and when Democrats took control of Congress in 2007 there was no problem with renewal (it was contained in Obama’s stimulus spending bill in 2009). But now, as we know, renewal is unlikely.
And why should we renew it? This subsidy is the only thing keeping the wind energy industry afloat. What business to the taxpayers of a nation $16 trillion in debt have subsidizing an industry that can only exist because of the subsidies?Tags: subsidies, wind energy