For 20 years now the wind industry has received a $1.5 billion annual subsidy in the form of a production tax credit (PTC). Set to expire this year, PTC supporters are scrambling to explain why it should be extended and some politicians on both sides of the aisle are bending over backwards to accommodate.
The problem is that the PTC is simply bad policy. It has made the wind industry dependent on government. It distorts energy markets and increases the tax burden for each American. Perhaps worst of all, it is sucking away the very resources necessary to develop the clean, affordable and American energy that its supporters claim to want. The wind PTC should not be extended but should expire as planned. Instead, wind companies should have the freedom to succeed on their own merits.
For more information and to RSVP, please visit http://www.heritage.org/events/2012/11/wind.