Renewable welfare: $251,000 per job

Taxpayer provided welfare for the renewable energy industry became a lot richer yesterday as the Departments of Treasury and Energy announced that they were making $502 million in “grants” available to firms in lieu of earned tax credits. Apparently the tax credits weren’t worth anything since the industry has no profits.

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The $502 million of stimulus funding supposedly will provide 2,000 jobs according to the feds.That’s only $251,000 per job — and all so that consumers can pay higher prices for electricity. Whoever is being stimulated by this spending is pretty perverse.