BigWind costs the US taxpayer MORE $ when they produce MORE energy? YES

Fox Business reports that the states with the largest use of wind power have the highest utility bills. They note private investors are encouraged to hold on to their own money while the government (you and me) provides the life support for wind through the Production Tax Credit.    The outcome of the election may pull the plug on the PTC.   Enter the League of Conservation Voters.  Fox reports “It would be an understatement to say that the outcome of the 2014 elections is important for wind energy producers. In an effort to see PTC friendly Harry Reid as Majority Leader,the wind industry has essentially turned the League of Conservation Voters (LCV) into their own personal Trojan horse.

Much of the LCV leadership has deep ties to the wind energy:

•       Tom Kiernan, CEO of the American Wind Energy Association (AWEA) serves as the Treasure of the LCV.

•       Peter Mandelstam, former AWEA board member and founder of Green Sails wind energy company also serves on the LCV board.

Unsurprisingly, much of the LCV’s campaign activities have been aimed squarely at renewal of the PTC. The organization brags  that it will spend over $25 million supporting pro PTC candidates  and attacking their opponents before November elections. Should LCV’s campaign fail, loss of the PTC could prove fatal to some wind companies. 

We have seen Ohio LCV hand at work in Ohio with LCV support of Rep. Mike Duffey (R-Columbus) who opposed SB 310.  We are quite certain that we shall see more of the Ohio LCV as the legislature’s Study Committee gets up and running…. 

…For government-backed industries such as wind energy, the relationship is directly the opposite — the more they produce, the more it costs ratepayers and taxpayers. Recent analysis shows that states with the largest use of wind power have the highest electricity bills. Such factors have caused private investors to largely bypass wind companies and leave them largely dependent upon the government for their survival.

Wind energy companies rely heavily upon a government construct known as the “Production Tax Credit” (PTC) to support their bottom lines. The PTC is a federal program that provides billions of dollars annually to subsidize renewable energy facilities such as wind farms. Generally speaking a clean technology facility receives a tax credit for 10 years after the date the facility is placed in service with the tax credit amount ranging from $0.23 per kilowatt-hour (kWh) for wind to $0.011 per kWh for qualified hydroelectric….

It is presumed that a GOP controlled Congress would see the PTC on the chopping block in 2015 and a Democrat-controlled Congress will fight for renewal.

It would be an understatement to say that the outcome of the 2014 elections is important for wind energy producers. In an effort to see PTC friendly Harry Reid as Majority Leader, the wind industry has essentially turned the League of Conservation Voters (LCV) into their own personal Trojan horse.

Much of the LCV leadership has deep ties to the wind energy:

•       Tom Kiernan, CEO of the American Wind Energy Association (AWEA) serves as the Treasure of the LCV.

•       Peter Mandelstam, former AWEA board member and founder of Green Sails wind energy company also serves on the LCV board.

Unsurprisingly, much of the LCV’s campaign activities have been aimed squarely at renewal of the PTC. The organization brags  that it will spend over $25 million supporting pro PTC candidates  and attacking their opponents before November elections. Should LCV’s campaign fail, loss of the PTC could prove fatal to some wind companies.

As Warren Buffet recently told his loyal investors, “I will do anything that is basically covered by the law to reduce Berkshire’s tax rate. For example, on wind energy, we get a tax credit if we build a lot of wind farms. That’s the only reason to build them. They don’t make sense without the tax credit. “…

It May be Lights Out for the Wind Energy Come the Midterms | Fox Business.

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