MYTH # 15: Windfarms make good financial sense. They are more cost-effective than other sources or electricity, because they pay nothing for fuel.
Fact: Factoring in all the costs, wind power is nearly TWICE as expensive as fossil fuel electric power generation. Wind power is made financially viable – and, short term, highly profitable for windfarm developers – through multiple tax incentives, power production credits, power purchase guarantees, and NYSERDA cash transfers, and this financial burden is borne by us, the taxpayers. And the electrical utility can pass on higher prices to us, the ratepayers. The green from this “green” power goes to the developers, who often sell off the projects within two years to large corporations for their value as tax shelters.