Winds of Change: Historic Momentum Building for Renewables

9/16/22

Now more than ever before, renewable energy is entering an era of opportunity. Nationwide, we are experiencing increasing numbers of blackouts, thanks to increases in extreme weather and energy insecurity, all while fossil fuel prices and environmental costs continue to rise. Meanwhile, resources like solar and wind are less affected by such market instability (since, by contrast, their source of power is free) and have even bailed out Texas’s grid during the record heat wave this summer.

This bodes particularly well for Wind Harvest given the tax incentives and subsidies available during this shift in government support. The recently-passed Inflation Reduction Act grants significant subsidies to manufacturers of the Wind Harvester components made in the US. The Act also gives buyers of our turbines an unprecedented ten years to gain an extra $0.025 for every kWh of electricity they produce through the U.S. Production Tax Credit. The impacts of these provisions are incredible.

Fourteen Wind Harvester turbines provide approximately one MW (980 kW) of capacity and will produce 3,000,000 kilowatt hours (kWh) of electricity per year in an average California wind farm. Our proposed Rio Vista Resiliency Project in Solano County will start off at 1-2 MWs and can eventually expand to include 8-16 MWs of wind turbines, solar panels, and batteries. If the Power Purchase Agreement (PPA) for this project is $0.05/kWh and Renewable Energy Credits earn $0.02/kWh; then a 1 MW project would gross $210,000/year. 

The Inflation Reduction Act provides an additional $0.025/kWh for the first ten years of operation. This addition makes it so that even projects in lower wind speed sites can meet institutional expectations for long-term financial returns because the project owner would gross an extra $75,000 annually for ten years, increasing profits by at least 25%. 

Additionally, with the new legislation, Wind Harvest should receive a bonus of ~$14,000 per turbine by buying US-made nacelles, towers, and power converters. We will also be eligible for  millions in new manufacturing tax grants if/when we set up a ferrite generator production facility in the US.  

With all of these factors creating an ideal situation for innovation and growth for green energy, this will be the best time in history to bring a breakthrough technology to open numerous untapped renewable energy markets.  Come join us and invest in building on all this good news.