New Treasury Department numbers show that soaring federal handouts for wind and solar dwarf all other energy-related provisions in the tax code and will cost taxpayers $421 billion by 2034.

The 10-year cost of federal tax expenditures for wind and solar has increased 21-fold since 2015, according to a report in Substack.

In 2005, Scientific American published an article saying that the hockey stick graph published a few years earlier by Michael Mann, an academic who now works at the University of Pennsylvania, had become “an iconic symbol of humanity’s contribution to global warming.”

Mann and the hockey stick have become defining examples of the politicization of climate science.

The staggering cost of the subsidies Congress has given to Big Wind, Big Solar, and other alt-energy outfits in the name of climate change. In late November, the Treasury Department published the newest edition of its annual report on tax expenditures, which it says are “revenue losses attributable to provisions of Federal tax laws.”

Those credits, which are the principal drivers behind the deployment of wind and solar energy, and a handful of other forms of alt-energy, are, by far, the most expensive energy-related provisions in the federal tax code. Between 2025 and 2034, the ITC and PTC will account for more than half of all energy-related tax provisions. And that total does not include the tax credits for electric vehicles.

0 comments

You must be logged in to post a comment.