By Lachlan Markay, The Foundry:
Proponents of taxpayer support for green energy are touting a new study claiming that tax credits for solar companies will pay for themselves over the long run.
The problem: the study, conducted by the U.S. Partnership for Renewable Energy Finance, assumes that solar companies that enjoy the tax breaks in question will survive for the 30 year period the study measures. That’s no sure thing, as recent events and predictions among industry observers demonstrate.
The tax credit in question is generally equal to 30 percent of the cost of a renewable energy project. The credit was created under the Bush administration and later expanded by President Obama’s stimulus package… Read more