Devaluation of BigWind to hurt county coffers -share in Ohio!!

Share this article with Ohioans! This story will repeat across the USA, as industrial wind sites age, particularly where there is ‘poor’ wind resources. What about Ohio? Well, go to our home page and click on the picture at the bottom and you will see that we are a ‘poor’ wind resource state. Could this story repeat in Ohio in Van Wert? YES! In Huron, Champaign, Hardin counties? YES! The historical data for wind site performance in Ohio is poor, with sites producing approximately only 30% of the energy that they are capable of producing. Once the (tax) incentives are removed, these sites are no longer profittable and these companies will disappear. What will county governments do then? What will the farmers do then? Thank you, Ohio legislature and governor for ‘freezing’ our renewable energy mandates while such issues are reviewed!!!…

A sudden and dramatic drop in the value of Kern Countys massive wind energy farms will strip millions of dollars out of government coffers this fiscal year.

The Kern County Assessor-Recorder’s office has warned county officials that they expect to drop wind energy property value by $777 million less than three months into the fiscal year.

County budget officials estimate that will strip $1.8 million from the county’s main operational fund and $900,000 from taxes used to run the Kern County Fire Department.

Other governments — cities and schools and special districts — could also lose revenue….

Ansolabehere said the drop in wind energy values came for a number of reasons.

In the first year that a new wind energy project is active, he said, the operator gets a check from the federal government that covers 30 percent of its value.

That check doesn’t come in the second year.

So, Ansolabehere said, the value of a wind project often drops dramatically in the second year.

The other major reason valuations have dropped, he said, is that some projects are not producing energy at the level they were expected to…

But, on the whole, production is less than predicted.

via Devaluation of wind farms to hit government coffers – BakersfieldCalifornian.com.

Even Warren Buffet Admits Wind Energy Is a Bad Investment

Bazinga! This should be reposted all over the web and shared with our legislators!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Despite being famous for touting the idea that the rich don’t pay their fair share of taxes, investor Warren Buffet seems to be perfectly fine with receiving tax breaks for making investments in Big Wind. “I will do anything that is basically covered by the law to reduce Berkshire’s tax rate,” Buffet told an audience in Omaha, Nebraska recently. “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.”

But while the wind production tax credit may be great for Buffet’s bottom line, it’s harmful for American taxpayers and energy consumers.

The credit’s proponents say that tax breaks for green energy technologies will encourage innovation, but they fail to acknowledge that Washington’s history on these handouts and tax breaks for green energy have consistently failed. For example, we cannot control when or how much the wind blows, and it just so happens that it tends to blow when we need it least. On average, wind energy facilities operate at just 30 percent of their capacity and must be backed up by more reliable forms of energy such as natural gas. Instead of producing energy solutions that can survive and thrive in the marketplace, we’re left with botched green energy projects that have brought us no closer to our energy goals.

If private companies like Berkshire Hathaway are not willing to jump in without government incentives, it is a sign that the energy technology is a bad investment. It simply does not make sense for the government to subsidize energy technologies that are economically unviable, while attempting to restrict other options that provide reliable and affordable energy for everyday Americans….

via Even Warren Buffet Admits Wind Energy Is a Bad Investment – US News.