24-07-2008, 10:40 PM
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US: Wind energy subsidies yield more than they cost
Wind energy subsidies yield more than they cost
Quote:
Submitted by Bruno De Wachter on Thu, 2008-07-17 05:30.
Revenues for US Treasury calculated
Wind energy is often criticised by competing forms of energy generation for some of its perceived aspects. It is said to cause dispatching problems, to be more expensive than fossil fuel, to have a limited global potential, and to represent a high cost to society.
This last critique has now been contradicted by GE Energy Financial Services. Their study ‘Impact of 2007 Wind Farms on US Treasury’ concludes that the financial incentive for wind energy by the US federal government has a positive Internal Rate of Return (IRR).
This incentive consists of a Production Tax Credit (PTC), currently rated at 2.1 US cents/kWh, which is granted for the first 10 years of a wind farm’s production. The PTC has been a key element in the expansion of wind energy in the US….
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Read Full Article: Wind energy subsidies yield more than they cost | Leonardo ENERGY
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