But Does it Really Benefit Oklahomans?
As reported by the American Wind Energy Association, Oklahoma now ranks second in wind production. That translates into millions more in profit for an already multi-billion-dollar industry.
Yet, Oklahoma missed out on more than $16 million in lost revenue because the wind industry doesn’t pay ANY sales taxes, unlike all other energy producers.
The good news is, effective July 2017, no additional industrial wind facilities will qualify for the Zero Emissions Tax Credit paid by the State of Oklahoma. The additional 2,217 Megawatts of capacity completed and in the advance stages of planning after the cutoff proves what we have always said: the industry will continue to grow and thrive without exorbitant Oklahoma subsidies.
However, there is still more to do. Wind projects that were completed before July 2017 qualified for ten years of Zero Emissions Tax Credits from the date they went into service. Oklahoma taxpayers are on the hook to pay more than $930 million before the credit ends for good. It is also evident that Oklahoma is losing out on millions in revenue through the wind sales tax exemption.
Bottom line, it is time for this wildly successful industry to compete on its own merits and contribute to Oklahoma. Big Wind continues to profit from our natural resources without paying its fair share of the costs to advance Oklahoma.