Wind loses interest without tax subsidies
Fuel Fix:
U.S. investors in wind-generated power nearly abandoned the business last year as Congress let lucrative tax credits for wind projects tumble away, according to a new report.This gives you an idea of just how inefficient wind energy is. Without the tax subsidies it is just not profitable. Like most "alternative energy" wind is just too expensive and too inconsistent to be relied upon consistently. Those who push for alternatives to conventional energy sources need to do more research and come up with more competitive alternatives if they really want to transition from fossil fuels.
New installations of U.S. wind projects fell 93 percent in 2013, measured by power generation capacity. New wind power installations had climbed to a record 13,100 megawatts the year before, Navigant Research reported. One megawatt is enough to power 500 Texas homes in normal weather.
Financiers yanked much of their backing last year after legislative deadlines passed and it was too late for the $2 billion tax credit to bolster investments in wind installations. Navigant pointed to the foundering U.S. market as the biggest driver behind a 20 percent drop in global wind power development, the first decline in eight years.
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