Not the news you really want to read ... from Fox News:
"Despite the GAO report that points out holes in the government’s approach to wind energy, the Internal Revenue Service announced last week it would be increasing the production tax credit available for energy generated by wind, geothermal, solar and certain biomass projects because of inflation.
According to an April 3 notice in the Federal Register, wind, geothermal and "closed-loop" biomass projects will now get 2.3 cents per kilowatt-hour of electricity produced, up from 2.2 cents.
The credit was set at 1.5 cents per kilowatt-hour in 1993 dollars and was indexed to inflation. The IRS has regularly updated the credit since then. The tax break – 2.2 cents per kilowatt-hour -- costs taxpayers about $1 billion a year. The new increase adds another $545 million in expected taxpayer support for the wind industry, according to the Institute for Energy Research."
You can read the rest of the article here: Overlapping wind energy initiatives spark claims of waste, as IRS increases tax credit.
