The collapse of Solyndra solar a while ago focused much attention on the cost of so-called renewable energy. But according to James Rust of the Heartland Institute, subsidies for solar are just the tip of the expensive renewables iceberg . . .
From a social cost perspective, carbon taxes are, by nature, regressive, meaning that they inflict largest pain burdens upon low-income households. As Marlo Lewis observes, this presents a “Catch-22” dilemma for any Republicans. If on one hand, they offer to support a carbon tax in exchange for cuts in corporate or capital gains taxes, they will be accused of seeking to benefit the rich at the expense of the poor. On the other hand, any “carbon dividends” paid out to offset higher energy price burdens on poor households will create a new class of welfare dependents …a costly consequence for the general public that Democrats are much less inclined to worry about.
A select group, described as “sophisticated investors” by one solar panel installer, was concerned with return-on-investment issues and maximizing their multiple, tax-advantaged solar panel installations. They requested that the 15 cent/kWh buy-rate be increased by Dominion to offset the anticipated Federal and State income tax burden. Otherwise, the net after-tax-return would be about the same as for the current net energy metering plan, thus there would be no monetary incentive to participate in the solar plan.
National Journal: The U.S. has a $16 trillion national debt that is growing nearly exponentially. Precious federal dollars ought not be wasted to promote production of high-cost energy. Let the wind production tax credit expire with the old year.
Senator Lamar Alexander (R-TN) … said the nation’s fiscal situation has become so dire that the government can no longer afford to maintain a wind power production credit that has been in place since 1992: “I think there is certainly the largest realization that we have ever had that it’s time for it to end.”
Nissan abandons its 2012 sales goals. Short range, high cost, deteriorating batteries, coal fired electricity, potential bricks and a drain on the treasury — electric cars have much to overcome before consumers embrace them.
Growing disillusionment over lavishing taxpayer dollars on dubious renewable-energy subsidies has prompted dozens of House members to ask Speaker John Boehner to allow the Production Tax Credit (PTC) for the wind industry to expire at the end of the year.
Waltham, Massachusetts battery company A123 is bankrupt. A123 which makes batteries for electric vehicles, was awarded a $249 million federal grant which does not need to be repaid as would a loan.
Al Gore, who left public office with an estimated net worth of two million dollars, is worth an estimated 100 million dollars today according to the Washington Post. Fourteen green-tech firms in which Gore invested received or directly benefited from more than $2.5 billion in loans, grants and tax breaks, part of President Obama’s historic [...]
SoloPower is set to get a $197 million federal loan guarantee. The more the plans fail, the more the planners plan.
Unprecedented! As bills to extend seemingly perpetual wind energy subsidies were again introduced by industry lobbyists late last year, taxpayers finally decided they’d had enough.