The coming year could be a watershed moment for energy policy in the United States. The infamous Production Tax Credit (PTC), a federal subsidy for renewable energy, is set to expire, marking a potential step toward more reliable energy, a freer market and a change in the energy production landscape for the better — should we allow it.
The PTC is a $24-per-megawatt-hour credit based on production rather than demand. That means those who produce renewable energy can receive the credit regardless of whether or not that electricity is actually needed. The incentive is so immense that at peak hours of output, wind producers can actually pay retail electric providers, the companies that deliver the energy to homes and businesses, to take their product.
View original post 503 more words