Wind Subsidies Are Rising …

Source: Independent Institute
by Paige Lambermont

“New data recently released by the Energy Information Administration (EIA) shows a decrease in wind power production in 2023. Despite record highs in installed wind capacity and continually rising subsidies production is falling. Thanks to these subsidies, including the longstanding Production Tax Credit (PTC) and Investment Tax Credit (ITC) and the extensions that these credits received in the Inflation Reduction Act (IRA), subsidies for wind power have seen a dramatic increase over the last decade. The IRA extended these credits through 2025, and replaces them with the new, but similar, Clean Energy PTC and Clean Energy ITC through 2032. It also added provisions to provide even larger subsidies for projects that meet ‘Environmental Justice’ requirements.” (06/03/24)