Disentangling the Renewable Energy Scam

The solar energy industry is telling its pals in Congress that it is willing to lose most of its subsidies.  The current subsidy for solar is 30% of the construction cost.  To that subsidy, an additional 10% subsidy is available due to special fast depreciation for solar energy plants.  The 30% subsidy is scheduled to ramp down to 10% by 2022 and thereafter remain at 10%.  This is not a consequence of declining costs of solar that makes the industry no longer in need of such a large subsidy.  Solar electricity is a mature industry, and cost declines are moderate.  The real reason the solar people are happy with a lower subsidy is that the 30% investment tax credit (ITC) is not their most important subsidy.  The real subsidy is more complicated and better hidden. The real subsidy is rooted in renewable portfolio requirements in about 30 states. These states require that a certain percentage of electricity...(Read Full Article)
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