The Foundation’s latest research, The Production Tax Credit: Corporate Subsidies & Renewable Energy, shows that wind energy generators received more than $25 billion in tax credits from 2007-2016. Of that, 76 percent—or $19.4 billion—went to only 15 companies. Those companies have a combined market cap of more than $500 billion. See the chart below.
It makes one wonder why our federal government continues to allow these companies—and their Wall Street investment bankers—to take over $5 billion every year from average American taxpayers to support their renewable energy projects. By 2029, the industry’s take through the PTC will total more than $69 billion.