Factoring in all the costs, wind power is nearly twice as expensive as fossil fuel electric power generation. Wind power is made financially viable – and, short-term, highly profitable for wind farm developers – through multiple tax incentives, power production credits, power purchase guarantees, and NYSERDA cash transfers, and this financial burden is borne by us, the taxpayers.
The electrical utility can pass on higher prices to us, the ratepayers. The green from this “green” power goes to the developers, who often sell off the projects within two years to large corporations for their value as tax shelters.
The Department of Energy projects that, even with the continuation of massive subsidies, wind power will represent only a fraction of the increase in future power production, so wind power won’t impact global warming. Far worse, many wind projects receive Renewable Energy Credits based on their projected production, which are then traded to heavy polluters, allowing outdated fossil fuel plants to generate pollution beyond normal regulatory limits. These wind projects are not green power, but brown power, and your electric utility wants you to pay a big premium for it.
6 July 2008
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