In a report last year, the U.S. Government Accountability Office said the Treasury has forfeited more than $8 billion in revenue as a result of the tax credit, and faulted Congress for repeatedly renewing the credit without requiring any agency to study its impact on renewable-energy development.
Texas has been a major beneficiary of this transfer of wealth from the other 49 states.
Georgetown in particular has benefitted from this wealth transfer. All Texas ratepayers are paying for the $7B construction costs for the transmission lines from West Texas, yet all electric consumers do not participate directly in the lower cost of wind generated electricity. The current Federal subsidy is 2.3 cents per kilowatt-hour for those wind generating electrical plant owner/operators.
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