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The following sentence is written, non-ironically, by Dan Shapely, at The Daily Green:
http://www.thedailygreen.com/environmental-news/latest/offsets-carbon-credits-47011101
“All the Wilsons had to do, in order to earn that $17.20, was invest $58,000 in a new solar power system for their home.”
It’s not as bad as it sounds, though. Here’s the math from the rest of the paragraph:
Buy new solar system – $58,000
Federal Tax Credit – $18,000
State Rebate – $18,000
Net profits from sale of renewable energy certificates – $2,700 (per year)
Sales of personal carbon credit – $17.20
Net profit (loss) – ($19,282.20)
But, it’s okay. Here’s why:
“They expect to recoup their investment within six years”
Which means:
Loss of $19,282.20
Sale of certs – $16,200
Net needed to recoup – $3,082.20
Revenue from offset – $17.20
Total offsets needed to sell to recoup – 180
Frankly, this looks like a screaming deal. In 6 years, they’ll be power independent. Completely off the grid. And will have cost them almost nothing.
What’s the problem? They have to steal $36,000 from the taxpayers (federal and state) to make it work!
That’s right, friends. The only way this is even remotely worthwhile is if we help them pay for it.
By the way, how many homes could we power for 1 year with that $36,000?
Well, according to Mother Earth News, the average monthly power bill is $95.66, or $1,147.92 per year.
$36,000 / $1,147.92 = ~32
In other words, instead of letting taxpayers keep their hard-earned money (first choice) or subsidizing power for the 32 lower-income families for a year (second choice), we’re choosing to reimburse a couple who could afford a $58,000 upgrade to their home.
Nice work, lefties.
