Do taxpayers benefit from wind and solar energy?

When compared to the relative amounts of energy produced by each source, taxpayers are receiving little benefit from wind and solar energy, and a significant benefit from oil and natural gas.

How much energy does the US economy get from wind and solar?

Even after investing billions, the U.S. economy obtains less than 3% of its primary energy from wind and solar, compared to 74% from natural gas and oil.

How do wind and solar projects contribute to property tax revenue?

Wind and solar projects contribute millions of dollars in tax revenue. For example, in Howard County, Iowa, wind turbines generated $2.7 million in property tax revenue in 2024, accounting for 14.5% of the county’s total budget and helping fund rural schools, public safety and road improvements.

How much do wind and solar projects cost?

Nationwide, wind and solar projects contribute about $3.5 billion annually in combined lease payments and state and local taxes, more than a third of it going directly to rural landowners. States throughout the Great Plains and Midwest, from Texas to Montana to Ohio, have the strongest onshore winds and onshore wind power potential.

Are wind and solar power tax deductible?

The Inflation Reduction Act provided wind and solar power with lucrative tax credits that are essentially uncapped and available without limit. The oil and gas industry receives tax deductions that pale in comparison to the vast sums of taxpayer money provided to wind and solar generators, estimated at 6%.

Will a wind and solar tax credit increase electricity prices?

The tax credit pays eligible wind and solar facilities approximately 2.75 cents per kilowatt-hour over 10 years, effectively lowering the cost of renewable energy generation. Ending that tax credit will likely increase the cost of production, potentially leading to higher electricity prices for consumers and fewer new projects coming online.