Tag / subsidies

by Hoosier Econ

European Nations Plan to Cutback on Renewable Energy…Here’s Why

Europe is seen as the future of environmentalists philosophy, but not for long.

With skyrocketing energy rates for customers to fund “renewable energy” projects, many nations are deciding to cutback on investments.

Here’s more from the DailyCaller.com:

The average European spent 26.9 cents per kilowatt-hour on electricity during the last full year of data, while the average American only spent 10.4 cents, according to an analysis of government data previously published by The Daily Caller News Foundation.

Even EU nations where power is relatively cheap pay a lot more for power than any U.S. state. Great Britain, for example, pays an average of 54 percent more for electricity than Americans paid last year. Much of the expense comes from subsidies for green energy, which account for roughly 7 percent of British energy bills, according to government study released last July.

Power prices are so absurdly high on the continent that cutbacks have already been made. Denmark’s new government pledged to reduce the amount of money it spends on “green” energy by 67 percent in December, and Germany plans to abandon the construction of new wind power plants by 2019.



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by Hoosier Econ

Examples of how government wastes tax dollars

Speaking from experience, government bureaucrats do not care about you. Continue reading →

by Hoosier Econ

Obamacare Enrollees Getting Taxed

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Last week I reported H&R Block website had a new feel good name for one Obamacare tax.  This week new analysis comes from Americans for Tax Reform about more taxes within the law:

The majority (52 percent) of Obamacare enrollees receiving an advance premium tax credit to purchase Obamacare insurance is facing the prospect of paying back $530 of that tax credit to the IRS, according to a new study from H&R Block.  This clawback is reducing the refunds for these taxpayers by 17 percent this filing season.

Families of four earning less than $97,000 are eligible for a credit.  So is a single mother with two children earning less than $80,000 and an unmarried/childless taxpayer earning less than about $12,000.  By definition, these are the lowest income recipients of Obamacare health insurance outside the Medicaid-eligible population.  Higher income taxpayers received no tax subsidy and aren’t facing this tax season surprise.

According to the study, a majority of credit recipients–52 percent–have had to pay back the IRS an average of $530, reducing their refunds by an average of 17 percent.

Read the rest here

by Hoosier Econ

Wind and Solar Carry Higher Megawatt Prices

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Economic Policies for the 21st Century recently published a lengthy article titled America Should Avoid Germany’s Failed Energy Policy. Found an interesting price comparison of renewable energy vs standard forms.

These problems with green energy help to explain why only 4 percent of U.S. energy comes from wind and solar. Data from the Energy Information Agency show that, for plants entering service in 2019, levelized wind power costs will be between $64 and $175 per megawatt. Solar power will cost between $155 and $195 per megawatt. For comparison, conventional natural gas fired plants produce energy at a levelized cost of $14 per megawatt. Nuclear comes in at $71 per megawatt, comparable with efficient wind farms. The costs to consumers from renewable energy mandates are even higher when tax incentives are included.