End of tax credit a blow for wind power industry
Up to 37,000 jobs, many in Illinois, could be lost as projects are halted or abandoned
By Julie Wernau, Chicago Tribune reporter
The wind power industry is predicting massive layoffs and stalled or abandoned projects after a deal to renew a tax credit failed Thursday in Washington.
The move is expected to have major ramifications in states such as Illinois, where 13,892 megawatts of planned wind projects — enough to power 3.3 million homes per year — are seeking to be connected to the electric grid. Many of those projects will be abandoned or significantly delayed without federal subsidies.
The state is home to more than 150 companies that support the wind industry. At least 67 of those make turbines or components for wind farms. Chicago is the U.S. headquarters to more than a dozen major wind companies that wanted to take advantage of powerful Midwestern winds.
http://www.chicagotribune.com/business/ct-biz-0217-wind-ptc–20120217,0,7153601.story
h/t to CRS, DrPH
“Chicago is the U.S. headquarters to more than a dozen major wind companies”
Gee, I wonder why that is. And don’t tell me it’s because it’s the ‘Windy City.’
hopefully they’ll take their rubbish with them, and restore the environment before they go.
how are the european/russian wind and solar networks going, or not going, in light of the snow storms atm?
“The answer my friend is blowing in the wind, the answer is blowing in the wind…”
So why are they shutting down? They can still take advantage of the powerful midwestern winds. Or, were they more interested in taking advantage of the taxpayer funded subsidies and tax breaks?
great news they should pull the lot down and sell the steel for scrap.i off for a beer to celebrate.
The end of the “Wind” world is nigh? Hopefully!
“Chicago is the U.S. headquarters to more than a dozen major wind companies that wanted to take advantage of powerful Midwestern winds.”
Yeah ff course they would. Chicago is most corrupt city in the world and the wind industry is just one big con.
Made for each other.
Without Federal subsidies, there is no viable commercial wind power business.
Chicago is the U.S. headquarters to more than a dozen major wind companies that wanted to take advantage of powerful [Midwestern winds] Democrat subsidies.
Love it. I wish we could get the enormous subsidies for wind power stopped in the UK. The cost of electricity from wind in the UK ranges from at least two (large wind farms) to ten times (small domestic turbines) the cost of electricity produced by proper power stations. As a result of the cost of the subsidies being added onto electricity bills, we have massive fuel poverty. And the most scenic countryside is not being spared the relentless march of the white elephants.
Ah, how nice, The World Wildlife Fund (WWF) members must be exulting over the end of this bat-mangling and bird-whacking boondoggle with loud huzzahs and dancing in the streets fit to frighten the chipmunks, mustn’t they?
Er, they’re not?
Now we can see if the ‘green’ promoters will put their own money on the line. Any bets?
Sounds like reality is catching up with some of the projects running on taxpayer largesse. If “make or break” is solely a function of a 2012 tax credit, somebody hasn’t been doing their homework. Reminds me of the guy who can’t pay his debts, so he gets another loan to pay rent but promptly takes that money to the race track and bets it in his favorite horse.
Sounds like political blackmail ahead this autumn!
Kurt in Switzerland
Chicago is the U.S. headquarters to more than a dozen major wind companies that wanted to take advantage of powerful Midwestern winds.
,,,,,wanted to take advantage of chicago politics and insider subsidy deals, you mean.
Excellent news.
w.
“Without the tax credit, the market for wind power generation will grind to a halt, he predicts.”
if the business model can’t survive without the credit, it’s not a business but a government sponsored charity.
let them die.
Why do I hate the term “Supply x-million homes” as a unit of production ??
13892 MW at [say] 25% capacity factor, less [say] 15% line and transformation losses gives the 3.3 million homes about 900 watts each.
Who will run the roster for putting on the coffee ?
I realise that the whole green energy thing has been promoted by lobbyists at varying governments around the world, with promises of cheaper ‘fuel’, more jobs, etc, etc. But who did all the actual promoting initially? and who funded them? (I am guessing it was the likes of Greenpeace that started it all off?)
In a way, this is no different to any other typical economically based ‘bubble’ – people (and big business) got on the band wagon – milked it – and are now complaining when its realised that there is no real sense to the set-up created.
I am no economist, but seeing the way the world ‘jumps’ headlong into things, simply amazes me – perhaps its the modern era of fast communication?, etc – but in the past, when an idea was promoted, it was carefully considered, tested, tried, refined, and tried again. Renewable energy, was seemingly fast track promoted, without the drawbacks being properly considered – almost like timeshare pressure selling! – when, oh when can we return to a sensible state of DUE CARE AND CONSIDERATION instead of the ‘lets make a quick buck’ attitude…..?
But I thought wind power was perfect. What do you mean they have to shut it down if the government doesn’t subsidize them? Other than solar I know of no other power source that would fail without subsidies.
Hopefully a domino effect will happen here. Lets pray that investors get panicky about Wind farms.
>>> “enough to power 3.3 million homes per year”
But only on alternate Thursdays and Sundays – with extra power always available at 3am or on public holidays. At any other time, you can go and sing for an electric light or a working computer.
.
Woohoo! I mean, er, oh! Sorry about the 37,000 jobs, but….where did they get that figure? 37,000 being fed with a fancy welfare scheme? That somehow just doesn’t add up. Right. G+R+E+E+N=J+O+B+S. No matter that there is no wealth being generated.
Well, they really seem to have had the wind taken out of their sails 🙂
I always get a chuckle when these outfits mention how many homes they can power, conveniently leaving out the 30% generation average or what happens when the wind don’t blow.
Not really an Illinois story, just happens to be from the Trib. It’s great news nation-wide!
Prediction: not one abandoned windmill will be properly taken down and recycled by owners/operators. Anywhere.
Too bad they’re not biodegradable.