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Green energy: often a very bad “investment”

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Green energy: often a very bad “investment”

http://www.cfact.org/2013/07/17/green-energy-often-a-very-bad-investment/

Once again, the $2.6 billion Cape Wind construction is illustrative of how the overlaps can give the developer more in taxpayer-funded benefits than the project’s actual cost. Federal incentives, including a $780 million energy investment credit, a DOE loan guarantee, and accelerated depreciation could be more than $1.3 billion—or more than 50% of the project’s cost. But, this just represents the federal package. Add in state incentives and the combined total could be $4.3 billion—exceeding the projected cost by 167%. Cape Wind claims to create only 50 permanent jobs—which would equal a staggering $86 million per job.

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