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Manhattan Institute

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Thanks for Giving Me Your Tax Money

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Thanks for Giving Me Your Tax Money

The Wall Street Journal April 19, 2017
Energy & EnvironmentRegulations

I’m opposed to all energy subsidies—unless, of course, I’m the one collecting them.

Now that tax day has passed, I must thank you, my fellow federal taxpayers. You all are the wind beneath my solar panels.

Pardon me for mixing energy metaphors, but it’s only appropriate that I express appreciation for the generous subsidy you provided for the 28-panel, four-array, 8,540-watt photovoltaic system I installed on my metal roof last year. Thanks to the investment tax credit, I slashed my 2016 federal tax bill by $7,758.

Before going further, let me be clear: I’m opposed to all energy subsidies—unless, of course, I’m the one collecting them. And thanks to the incentives for rooftop solar, I’ve snared three subsidies.

In addition to the federal subsidy, Austin Energy (our city-owned utility) paid $6,593 of the cost of my system. Thus, after subtracting local and federal subsidies, the net cost of my 8.54-kilowatt system was $18,100, or about $2.12 per watt of installed capacity. I’m also getting an ongoing subsidy....

Read the entire piece here at The Wall Street Journal

______________________

Robert Bryce is a senior fellow at the Manhattan Institute. Follow him on Twitter here.

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