Wind industry boom going bust

"The wind energy lives and dies by its tax credit. That’s because there is no money to be made in generating electricity from windmills. They are tremendously materials intensive, consuming steel and concrete in prodigious amounts. Each 40-story windmill produces 2 megawatts at best, so you need hundred of them to equal a conventional power plant. Even then, they generate unpredictably and only 30 percent of the time. The only thing that makes them worth building is the production tax credit. …

....... when Congress fails to renew the tax credit, the industry collapses. This is indicated on the bar chart. Before 2005, the renewal was on a one-year cycle. When Congress failed to renew in 2000, 2002, and 2004, production fell by at least 73 percent each time. In 2005 the PTC was extended to a two-year cycle and was last renewed in the Stimulus Act of 2009.  

With Republicans now in control of the House of Representatives, however, the PTC will probably not be renewed unless Democrats achieve a remarkable victory in November. As a result, windmill construction is about to end almost completely. Layoffs have already begun."     [Hot Air]