Renewable welfare: $251,000 per job

Taxpayer provided welfare for the renewable energy industry became a lot richer yesterday as the Departments of Treasury and Energy announced that they were making $502 million in “grants” available to firms in lieu of earned tax credits. Apparently the tax credits weren’t worth anything since the industry has no profits.

The $502 million of stimulus funding supposedly will provide 2,000 jobs according to the feds.That’s only $251,000 per job — and all so that consumers can pay higher prices for electricity.

Whoever is being stimulated by this spending is pretty perverse.

4 thoughts on “Renewable welfare: $251,000 per job”

  1. Yeah. I’m pretty stimulated about now, too. The renewable energy grant in California is for $2.170B. Total energy production will be 1482 MW. Do the math. It works out to 67 cents per KW/Hr. By comparison, Maryland residents pay 15 cts and that includes taxes and surcharges from every federal agency with a 4 letter name.

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