J. Winston Porter, of the GreenvilleOnline, opines that the growth of solar and wind power in the U.S. has spawned a really bad idea ... the notion that renewable energy sources can replace fossil fuels in electricity production. Many states have been so keen to develop renewables that solar and wind power have grown at a fast pace. But much of this growth was made possible by generous federal tax credits for renewables. Now the solar and wind supporters are lobbying Congress to approve a multi-year extension of these tax credits, claiming that, without the credits, renewables can not compete with coal and natural gas.... and nuclear. But anyone tempted to think that solar and wind energy merit special tax breaks should think again. During the past decade, the costs of renewables have continued to fall. For example, the cost to manufacture a solar module is roughly 10% what it was a decade ago. Thus, it is time for renewables to compete in the energy market place.
Today, 29 states have so-called renewable portfolio standards that mandate the increasing use of solar and wind power through 2022. Despite the special treatment for renewables, solar and wind power are more promise than performance. Together they supply only 5% of the national electricity, and solar and wind will not be able to get us even halfway to meet the EPA requirements to reduce carbon emissions by 32% by 2030. In South Carolina, nuclear power supplies 54% of the state electricity, coal 30%, natural gas 12%, and solar and wind almost no electricity at all, according to the U.S. Energy Information Administration. Very importantly, South Carolina nuclear plants account for virtually all of the state carbon-free electricity. Solar power in particular has a sweet deal nationally. It benefits greatly from a 30% federal investment tax credit for residential installations that is due to expire at the end of 2016. Good read on ...
Original working URL: https://www.greenvilleonline.com/story/opinion/contributors/2015/12/29/eliminate-credits-and-level-energy-playing-field/77751610/
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