The Checks and Balances Project commissioned a poll that shows high levels of support for wind energy and ratepayer antipathy toward actions carried out by Commonwealth Edison’s parent company, Exelon, to end wind power investments.
The majority of respondents opposed ending the tax credit that encourages the production of wind power (54%), and opposition to ending the tax credit rose significantly (70%) if ratepayer money was used to help fund the lobbying efforts to end the tax credits for wind power.
It is not clear whether Exelon is using ratepayer money to fund their multimillion dollar lobbying campaign against the wind tax credit. But the public and ratepayers have a right to know.
Regardless of how they fund their campaign, it is clear that ratepayers strongly support investment in wind energy. Ratepayers oppose Exelon’s efforts to go after investment in wind, while Exelon remains supportive of continued subsidies for nuclear energy (Nuclear energy comprises over 90% of Exelon’s holdings in the power generation sector).
The poll shows that:
• 81% of respondents support wind energy.
• A majority of respondents would favor increasing (57%) or not changing (21%) financial incentives offered to renewable energy.
• A majority (54%) respondents oppose Exelon’s efforts to end tax credits for wind
• This number jumps to 70% when told ratepayer dollars may be funding this lobbying effort.
• Nearly two-thirds (63%) opposed Exelon’s efforts to end wind tax credits while the company did not lobby to end subsidies for nuclear energy as well.
The popularity of wind as an energy source shouldn’t be surprising. Numerous studies have shown that consumers benefit from wind electricity’s lower rates. A study by Synapse Energy Economics found that wind power could save Midwestern consumers between $3 billion and $9.5 billion a year by 2020. In addition, wind energy tax breaks have incentivized more than $75 billion worth of private investment over the past five years.
Ending the PTC will harm ratepayers by removing the savings they would receive from wind energy and clear the path to more expensive sources of energy like nuclear power. Furthermore, wind energy competition to Exelon’s nuclear plants may be driving Exelon’s efforts to stop wind energy tax credits.
Our poll shows that Exelon’s current course of action is inconsistent with the stated wants of its ratepayers. The company should be responsive to its customers and cease lobbying against the interests of their customers.
Click here for more info on the poll.