Should Washington Extend Tax Credits for Wind Power?

[wtmusic]

"As the Jan. 1, 2013, “fiscal cliff” approaches, one of the most divisive issues in Congress is whether to extend tax credits for wind power that are scheduled to expire at the end of 2012. The political battle lines among legislators are largely set, with supporters enthusiastically discussing job creation and opponents demanding an end to wasteful subsidies. Stepping back from the immediate political fray, is continuing the policy a good idea?

The numbers do not look very good. Congress would be committing itself to an expensive program that likely would cost over $100,000 per job while only leading to small price declines for wind power of around 1 percent. Emission reductions seem more cost-effective at roughly $15-$40 per ton of carbon dioxide, but such an approach to climate policy is unsustainable.

Despite the lackluster benefits of the credits, wind supporters may still feel compelled to support it. Ideally, this credit would be phased out or eliminated, and some or all of the money that would have been spent would be redirected, preferably for alternative technology research and development. However, in the current political environment, the spending will likely be eliminated rather than shifted. People who want to see alternative energy development could find themselves without the tax credits and without any additional money for new technologies."

http://theenergycollective.com/jamescoan/145766/should-washington-extend-tax-credits-wind-power?utm_source=feedburner&utm_medium=feed&utm_campaign=The+Energy+Collective+%28all+posts%29

[pinto]

1. Tax credits are a smoking gun in all things energy.

Our biggest credits go to oil production. Not sure of the return on wind, yet I'm really supportive of incentives to support solar development. The Solyndra situation was a red herring the Repubs threw into the political races.

Long term, I support sustainable energy production all along the spectrum. (on edit) This is a yes from me.

[mopinko]

2. wind is doing great in illinois thanks to state mandates

30% of all electricity generated is required to be renewable. turbines are sprouting like mushrooms.

[pinto]

3. +1

We *literally* have to invest in the future - energy-wise, infrastructure, education, etc.

[greenman3610]

4. yes

[newfie11]

5. Yes nt

[Writely Wrong]

6. Boy, talk about a real trickle down effect.

I work for a company that helps to build wind farms. While we may only have around 100 people, there are the vendors who sell us good and services and their employees. And then there are the 100 or so other companies just like us that help to build farms who also have vendors. There are the companies that build the blades, the tall metal towers, and the generators powered by the blades, and the truckers who move all these parts across the country.

There are a lot of us out here that are sure hoping that credits get extended.

[Demeter]

7. Until the last coal and nuke plants are hauled away or buried...YES!

[JimDandy]

8. Absolutely. Yes.

[CRH]

9. Remove all tax credits and subsidies from fossil fuel production, ...

reallocate it all for renewable research, development, and installation. That includes the subsidies to the corn belt for ethanol.

[AverageJoe90]

10. I would certainly hope so, yes!

Wind power is greatly underestimated by many people.