More On Solar and Wind Subsidies

The Texas Public Policy Foundation has an excellent review of a recent report (TPPF) on renewable energy by the International Energy Agency (IEA).

The IEA implicitly confirms that by removing government support, many renewable energy companies would collapse like a house of cards because they aren’t competitive without it. Further, the report concludes that without government subsidies for renewable companies, investors would not be comfortable investing private capital.

The review describes how the renewable energy industry has used financial engineering to finance the development of renewable energy plants.  When the financial house of cards collapses, Government steps in to rescue the financial institutions at the expense of the taxpayer. 

It’s time for Texas to take a closer look at the effect of increasing renewable generation and steer the competitive electricity market away from growing subsidies for unreliable energy sources.

Read the entire review at the TPPF website.