Wind farms “only work if you get a subsidy,” By DOUG SHERIDAN

“The only people that want them are the people that are getting rich off windmills, getting massive subsidies from the US government.”

The WSJ Editorial Board writes, every once in a while Trump says something that shocks DC with its blunt truth. So it was during last week’s press conference when he observed wind power isn’t economic without subsidies.

Wind farms “only work if you get a subsidy,” he mused. “The only people that want them are the people that are getting rich off windmills, getting massive subsidies from the US government. And it’s the most expensive energy there is. It’s many, many times more expensive than clean natural gas… You don’t want energy that needs subsidy.”

The media pounced and proclaimed wind energy is among the cheapest and fastest-growing power sources. But that’s only because of rich subsidies, which were sweetened by the Inflation Reduction Act. Federal tax credits can cover 50% of the cost of building an offshore wind farm and more than 80% of the cost onshore.

Even the Biden DOE, in a 2023 report, estimates power from new onshore wind farms costs more than from gas-fired plants if you exclude subsidies. Wind with tax credits is about 25% less expensive. On the other hand, offshore wind costs two to three times more than gas power even with subsidies.

These estimates don’t account for the cost of backup. Power from so-called peaker plants and batteries costs three to four times more than from baseload generators. It’s far cheaper to run gas, coal and nuclear plants around the clock than to use wind (and solar) some of the time and have to back them up with other forms of energy.

The reality is most wind projects wouldn’t be built without federal subsidies and state renewable mandates. The wind production tax credit was established in 1992 to boost an “infant” industry, but politicians from find a way to extend it every time it comes close to lapsing.

Democrats used a budget reconciliation trick to ensure that the wind and solar tax credits never expire by sunsetting them when US emissions decline by 75% from 2022 levels. But that won’t happen before 2050 under the DOE forecast—if ever. Perhaps the GOP should use the same nebulous sunset when they extend the 2017 tax cuts.

It’s encouraging that Trump says he wants to end the renewable subsidies, which would reduce power-market distortions that are driving up electric rates. Perhaps he can persuade Republicans from wind states that, after 33 years of subsidies, wind power should be able to stand on its own as an adult.

Our Take: The Board asks, “Why is the U.S. giving welfare to wealthy wind developers when gas power plants don’t need taxpayer dollars?” The answer is because everyone from Lazard to the The New York Times to confused politicians refuse to let go of a phony green dream.