CNN Money reports that John Deere, the big tractor company, has found a way to make profits while developing rural America and producing green energy. They accomplish this by financing wind turbines in these areas.
A project with the size of about 5 windmills works as follows: John Deere pays about $4,950,000, the farmers pay $50,000 and another $5 million comes from a loan from a bank. John Deere gets all the revenue for the first 10 years or until their initial investment is paid off and they’ve made a profit. The farmers get $20,000 a year each for maintaining the turbines. After the 10 years, the farmers get all the revenue, which estimates to about $1 to $1.5 million plus another $500,000 federal tax credit. This results to a good profit for everyone that will help develop these areas drastically.
It is nice to see that with a good idea you can accomplish something valuable, in this example develop rural areas and protect the environment/produce green energy/reduce the dependence on foreign oil, and still make profits. Sadly good ideas don’t grow on trees and as long as one can make their profits easier without doing something good, people will go the easy path.
(via EcoGeek)