By Paul Quigg, columnist
In spite of its denials, the Biden Administration has done everything in their power to reduce the production of fossil fuels. This quiet effort to try to accomplish the job their renewable energy efforts could not, has failed and the only result is higher energy costs.
The numerous subsidies given to solar, and to a lesser extent wind, has hidden the true cost of producing solar energy. The current solar energy legislation is packed with subsidies which have begun to phase out because it was assumed that solar would be able to stand on its own by this time as technological breakthroughs and increased production would improve its productivity. This has not been the case and the industry is working feverishly to have the subsidies renewed.
Solar World magazine, in a January 2022 article outlined the subsidies they wanted to have included in the languishing Build Back Better legislation. They want to extend the 30-percent Commercial Investment Tax Credit, and extend and refund the Residential Investment Tax Credits. They want to add Stand-alone non-residential Storage Investment Tax Credits, add Commercial Production Tax Credit Options, add Stand-alone Residential Storage Investment Tax Credits, add Domestic Solar Manufacturing Tax Credits, including panels, inverters, trackers and large-scale solar plus storage provisions.
These are just the Federal requests; regions, states, cities and local governments are eager to add to the list. The Commercial Investment Tax Credit has already dropped from 30 percent to 26 percent, with yearly 4 percent drops in the future.
The industry admits that without a Build Back Better renewal of past subsidies and the addition of the new ones mentioned above, the solar industry would rapidly dry up.
Mr. Quigg, a University of Virginia graduate and resident of Luray, has practiced architecture in the Mid-Atlantic region since 1962. As a lifelong environmentalist, in the 70’s he was appalled at the polluted air and water and has dedicated much of his time since in studying and commenting on the environment. He has been published in the Washington Post, the Wall Street Journal and other publications.