To the Editor:
Frank Smith, in his letter titled “No Subsidies Given to Wind Farms,” (8/23), clearly knows how utility rates and competitive power markets work in New Jersey and on the PJM grid. What he apparently doesn’t understand is the special treatment offshore wind projects have been given in the federal tax code and by the Board of Public Utilities as directed by the state Legislature.
Under Biden’s Inflation Reduction Act, these projects are granted a 40% investment tax credit, so that billions of…
August 30, 2023
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