IKEA loves BigWind, but admits it needs tax dollars to make $

How much are you, IKEA, paying for your wind energy? I’m sure it is well above market value and you will pass that bill along to your customers. Isn’t it also interesting, that Illinois, home of various BigWind projects, flat out states that there will be NO tax breaks or other incentives? The industry has received the wind production tax credit for approximately 30 years now, and they are still not able to stand without government support.  How long should we continue to support their failures??????????????????????????????????????????????????????? Let your Senators know how you feel.  The wind lobbyists and other green groups are attacking Ohio and federal legislators right now. They have called their troops to actions because of OH SB310 (freeze renewable mandates) and they persuaded 5 Republican Senators to verbally agree to renew the federal wind production tax credit. Ohio Senator Rob Portman deserves a call from you…

The U.S. subsidiary of Swedish furniture retailer IKEA announced Thursday that it is buying a long-planned wind-energy project in eastern Illinois as part of the company’s initiative to offset its energy use with renewable energy generation.

And IKEA insists the project, which has not yet been built, is more than public relations. The company believes that, long term, wind energy will help the company’s bottom line, Chief Financial Officer Rob Olson said.

But right now wind power is a struggling business. Cheap natural gas and the end of a federal tax break for wind-power producers have left wind generation unprofitable….

Olson declined to say how much money IKEA is paying….

For the Hoopeston project, Olson said IKEA will receive some form of government incentives, though he declined to name the source or their dollar value.

Both the Illinois Department of Commerce and Economic Opportunity and officials in Vermilion County, where the project is located, say they’re not providing tax breaks or other incentives….

Right now, Olson acknowledges, wind-power generation needs government incentives to make money…

via CHAMPAIGN, Ill.: IKEA buying Illinois wind-energy project | Business | Macon.com.

Advertisements