Strib business commentary: Wind and our own power

In An energy incentive is drifting in the wind, John Farrell of the Institute for Local Self-Reliance looks at the way the federal tax code discourages local small investors from getting into the wind industry.

Congressman Walz has proposed a cure:

. . .One solution has been offered at the federal level by U.S. Rep. Tim Walz, D-Minn. His bill would allow up to $40,000 of the tax credits to be taken against any income taxes, not just taxes on passive income. This would allow as many as 1.5 million households to become investors in Minnesota and tens of millions more nationwide.

Think how much faster America can achieve energy security if it can add millions more investors to the renewable-energy market. Think how much better investment can be if these locally owned projects are returning significant dividends to their rural communities.

Energy independence shouldn't be limited to avoiding oil or gas from the Middle East. It should also mean individuals and communities becoming energy producers. Community-based energy projects create a preference for clean energy, since the owners live next to the power plant. Locally owned energy projects double the return on our investments in wind energy and, more importantly, mean paying ourselves for our own power.

And now  "I Envy the Wind," a morning ditty by Lucinda Williams, inspired by natural power sources. (Disclosure: we studied poesy with her daddy at the Ozarks Famous Writers School).