“The Senate bill should serve as the PTC/ITC blueprint for the final bill…. [Such reform] is an important step, but only first step, toward a level-playing-field between electrical energies that will, longer term, improve grid reliability coast-to-coast, border-to-border.”

After 25-years of subsidy-driven financing, the wind industry is entirely reliant on tax-equity investors, willing to accept tax credits in return for funding a significant percentage of their project costs. Tax equity now accounts for up to 60% of the capital needed to construct a typical wind facility. The pool of investors with enough passive income to qualify for wind PTCs is limited and includes the largest financial institutions such as JP Morgan, Bank of American, Citi and even Google.

Said bluntly, Main Street Americans are coughing up billions annually to help the richest Wall Street bankers avoid paying their taxes.…

“At the end of the day, it seems that smaller markets are clustered at the higher end of the EV penetration ranking. This suggests it will be much more difficult to mandate and effect massive vehicle fleet shifts in favor of EVs in much larger markets without significant government subsidies and/or mandates, as well as significant infrastructure investment in EV charging facilities.”

“Tesla had about 80% of the EV market in Hong Kong. The cessation of the subsidy in April has raised the cost of Tesla cars by between 50% and 80%. Will Hong Kong’s EV penetration rate follow the others who have ended subsidies, and fall?”

The US Congress is hammering out the details of tax reform proposals from the House and Senate. At risk is a continuation of the subsidies for clean energy investments—investments in new wind turbines and solar panels, along with the subsidies for electric vehicle (EV) purchases.…

“We don’t observe the boundary effects in our modern economy and haven’t throughout oil’s history because reserve estimates have grown over time and will continue to grow for the foreseeable future.”

Mineral resource alarmists, reflecting a fixity/depletionist view of the world, begin by arguing that “you must admit that there is a fixed amount of oil on this earth.” This is true in the purely physical sense that roughly 2 million barrels annually are created by the earth versus the 35 billion barrels consumed in a year.

Oil is a non-renewable resource, but that doesn’t mean our economic models should treat it as a drawdown of static inventory. A great example for the issue of fixity in resource economics is reservoir modelling for a singular oil well. In reservoir engineering, there are flow regime equations that model how the fluid moves from the formation into the wellbore.…

“The Icebreaker Windpower project can be seen as entirely moot: there will be no meaningful benefit to Ohio and its citizens. The chimera of jobs and a boosted economy will never become material; the obvious loss to bird and bat life scarcely needs a comment.”

The heat is on for supporters of the six-turbine LEEDCo Icebreaker Windpower project offshore of Cleveland.

A show of “yeas” at the November 8^th public meeting of the Ohio Power Siting Board (OPSB) at Cleveland City Hall failed to make a dent in the logical and passionate opposition. A few dozen supporters at a public meeting is not material for a facility that is uneconomical and environmentally invasive–and unneeded except for a poster child of what was Obama energy policy.

It is surprising that the OPSB has not closed the file on the now called “Icebreaker Windpower.”…