http://legislature.maine.gov/legis/bills/getPDF.asp?paper=SP0457&am...
Comment
Maine steps up clean energy turnaround, tees up 80% RPS, pro-solar bills
https://www.utilitydive.com/news/maine-steps-up-clean-energy-turnar...
She will bankrupt the state in short order and the "Progressives" in the South can be proud of their "works." She signs bills like I change socks!
She will likely sign all of them.It is going to cost Jane and Joe Maine worker plenty.
The multi-millionaires will ride the subsidy gravy train and make lots of "campaign" contributions to pro RE legislators.
Wind and Solar Subsidies Provide a Bonanza for Wall Street
http://www.windtaskforce.org/profiles/blogs/the-more-wind-and-solar...
This URL shows wind and solar prices per kWh would be at least 50% higher without direct and indirect subsidies. They would be even higher, if the costs of other items were properly allocated to the owners of wind and solar projects, instead of shifted elsewhere. See below section High Levels of Wind and Solar Require Energy Storage.
http://www.windtaskforce.org/profiles/blogs/economics-of-tesla-powe...
http://www.windtaskforce.org/profiles/blogs/large-scale-solar-plant...
http://www.usu.edu/ipe/wp-content/uploads/2016/04/UnseenWindFull.pdf
This URL shows about 2/3 of the financial value of a wind project is due to direct and indirect subsidies, and the other 1/3 is due to electricity sales.
http://johnrsweet.com/Personal/Wind/PDF/Schleede-BigMoney-20050414.pdf
- Indirect subsidies are due to federal and state tax rebates due to loan interest deductions from taxable income, and federal and state MARCS depreciation deductions from taxable income.
- Direct subsidies are up-front federal and state cash grants, the partial waiving of state sales taxes, the partial waiving of local property, municipal and school taxes. See URLs.
http://www.windtaskforce.org/profiles/blogs/excessive-subsidies-for...
https://www.eia.gov/analysis/requests/subsidy/pdf/subsidy.pdf
Any owner, foreign or domestic, of a wind and/or solar project, looking to shelter taxable income from their other US businesses, is allowed to depreciate in 6 years almost the entire cost of a wind and solar project under the IRS scheme called Modified Accelerated Cost Recovery System, MARCS. The normal period for other forms of utility depreciation is about 20 years.
Then, with help of Wall Street financial wizardry from financial tax shelter advisers, such as BNEF*, JPMorgan, Lazard, etc., the owner sells the project to a new owner who is allowed to depreciate, according to MARCS, almost his entire cost all over again. Over the past 20 years, there now are many thousands of owners of RE projects who are cashing in on that bonanza.
Loss of Federal and State Tax Revenues: The loss of tax revenues to federal and state governments due to MARCS was estimated by the IRS at $266 billion for the 5y period of 2017 - 2021, or about $53.2 billion/y.
The IRS is required to annually provide a 5y-running estimate to Congress, by law.
The next report would be for the 2018 - 2022 period
Theindirect largesse of about $53.2 billion/y, mostly for wind and solar plants^ that produce expensive, variable/intermittent electricity, does not show up in electric rates. It likely is added to federal and state debts.
Most of the direct federal subsidies to all energy projects of about $25 billion/y also do not show up in electric rates. They likely were also added to the federal debt.
Most of the direct state subsidies to RE projects likely were added to state debts.
The additional costs of state-mandated RPS requirements likely were added to the utility rate base for electric rates.
* BNEF is Bloomberg New Energy Finance, owned by the pro-RE former Mayor Bloomberg of New York, which provides financial services to the wealthy of the world, including providing them with tax avoidance schemes.
^ In New England, wind is near zero for about 30% of the hours of the year, and solar is minimal or zero for about 70% of the hours of the year. Often these hours coincide. Where would the electricity come from during these hours?
https://www.nrel.gov/docs/fy17osti/68227.pdf
https://www.greentechmedia.com/articles/read/tax-equity-investors-b...
Warren Buffett Quote: "I will do anything that is basically covered by the law to reduce Berkshire's tax rate," Buffet told an audience in Omaha, Nebraska recently. "For example, on wind energy, we get a tax credit if we build a lot of wind farms. That's the only reason to build them. They don't make sense without the tax credit."
https://www.usnews.com/opinion/blogs/nancy-pfotenhauer/2014/05/12/e...
U.S. Sen Angus King
Maine as Third World Country:
CMP Transmission Rate Skyrockets 19.6% Due to Wind Power
Click here to read how the Maine ratepayer has been sold down the river by the Angus King cabal.
Maine Center For Public Interest Reporting – Three Part Series: A CRITICAL LOOK AT MAINE’S WIND ACT
******** IF LINKS BELOW DON'T WORK, GOOGLE THEM*********
(excerpts) From Part 1 – On Maine’s Wind Law “Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine if the law’s goals were met." . – Maine Center for Public Interest Reporting, August 2010 https://www.pinetreewatchdog.org/wind-power-bandwagon-hits-bumps-in-the-road-3/From Part 2 – On Wind and Oil Yet using wind energy doesn’t lower dependence on imported foreign oil. That’s because the majority of imported oil in Maine is used for heating and transportation. And switching our dependence from foreign oil to Maine-produced electricity isn’t likely to happen very soon, says Bartlett. “Right now, people can’t switch to electric cars and heating – if they did, we’d be in trouble.” So was one of the fundamental premises of the task force false, or at least misleading?" https://www.pinetreewatchdog.org/wind-swept-task-force-set-the-rules/From Part 3 – On Wind-Required New Transmission Lines Finally, the building of enormous, high-voltage transmission lines that the regional electricity system operator says are required to move substantial amounts of wind power to markets south of Maine was never even discussed by the task force – an omission that Mills said will come to haunt the state.“If you try to put 2,500 or 3,000 megawatts in northern or eastern Maine – oh, my god, try to build the transmission!” said Mills. “It’s not just the towers, it’s the lines – that’s when I begin to think that the goal is a little farfetched.” https://www.pinetreewatchdog.org/flaws-in-bill-like-skating-with-dull-skates/
Not yet a member?
Sign up today and lend your voice and presence to the steadily rising tide that will soon sweep the scourge of useless and wretched turbines from our beloved Maine countryside. For many of us, our little pieces of paradise have been hard won. Did the carpetbaggers think they could simply steal them from us?
We have the facts on our side. We have the truth on our side. All we need now is YOU.
“First they ignore you, then they laugh at you, then they fight you, then you win.”
-- Mahatma Gandhi
"It's not whether you get knocked down: it's whether you get up."
Vince Lombardi
Task Force membership is free. Please sign up today!
Hannah Pingree - Director of Maine's Office of Innovation and the Future
"Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine."
https://pinetreewatch.org/wind-power-bandwagon-hits-bumps-in-the-road-3/
© 2024 Created by Webmaster. Powered by
You need to be a member of Citizens' Task Force on Wind Power - Maine to add comments!
Join Citizens' Task Force on Wind Power - Maine