According to a report in the Charlotte Observer this morning, a provision in the renewable energy bill, a.k.a. SB 3, paves the way for one company to make lots of money from the government?s requirement that 12.5% of energy come from renewable sources, like burning poultry waste. In addition, it seems that the process used by this company may in fact contribute to carbon emissions ? something that the bill was sold as reducing.
Daren issued an excellent report when the legislation was being considered that is worth another look. He warned that the costs associated with this bill were astronomical. Lawmakers ignored his warnings and voted for it anyway.
This also is yet another illustration of how difficult it is to get a clear accounting of how much the state gives away in corporate welfare and develops advantages for targeted companies. This provision would not make any of the established lists for incentives and yet creates a market for one company, clearly an incentive.
This will be one to watch as Fibrowatt looks to build three plants in North Carolina. In addition to a ready made market worth millions, will they also get tax incentives and other tax funded giveaways courtesy of the taxpayer?
