Wind Industry Credit Axed
News Release from I Aloha Molokai, March 15, 2012
In a big victory for the people of Hawaii, our environment, and all American taxpayers, the U.S. Senate this week killed the Production Tax Credit for industrial wind factories. This corporate subsidy, a major contributor to America's enormous budget deficits and the cause of environmentally destructive wind projects in many states, was long overdue for defeat.
Also defeated was the notorious Section 1603, which gave industrial wind developers 30% of their total budget as an up-front cash grant. Called "pocket money" this shameful subsidy guaranteed Big Wind developers more than $1 billion before they even start work.
Here in Hawaii, HECO and Governor Abercrombie continue to push Big Wind against growing popular opposition. But the PTC defeat will make their sales pitch much harder. Without these subsidies, wind factories no longer look more attractive to investors than solar or geothermal, as even industry spokesmen will admit.
Without these subsidies, Hawaiian officials and communities should be able to consider alternative energy projects on their own merits. Everyone should now be able to see that covering Molokai and Lanai with giant wind turbines and blasting cables through fragile marine habitat is neither wise nor necessary.
We will continue our efforts until the threat of industrial wind factories covering Molokai and Lanai is removed, and we send out A BIG MAHALO to all those, here and on the mainland, who worked to defeat this legislation.
PRESIDENT - I ALOHA MOLOKAI