Duncan Davidson, in his article Investing in green tech at Wall Street Pit, suggests “European wind developers are fleeing the EU’s expiring wind subsidies.” Lacking government subsidies, we at Allegheny Treasures think a likely place for the swarm of European Mordecai Jones clones to land might just be the Buckeye state.
Just as Europe cuts back, Ohio’s Gov. Ted Strickland signs a wind energy bill which seems pleasing to, at least, Spain’s Iberdrola Renewables. According to a Times Bulletin article, Iberdrola Business Developer Dan Litchfield is excited about SB 232 getting Strickland’s signature, telling the Van Wert County Commissioners soon to consider how to handle the elimination of the tangible personal property tax for wind energy companies, “I see this legislation as a win-win, as it will provide for significant new revenue for the local governments for years to come, and it gives us the certainty we need to proceed with our project,” he said.
Maybe it’s my suspicious nature, but when an industry relying on government subsidies for its very survival is thrilled with tax legislation, it might be time for taxpayers to challenge their Legislator’s actions.
But even beyond the subsidy issue, Mr. Davidson plays on one of Yogi Berra’s quips, “In theory, theory and practice are the same. In practice, they are not,” saying of industrial wind: “In theory, wind power makes sense. In practice, it doesn’t.”