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$1.3 billion: The magic number for Tesla

Jon Ralston
Jon Ralston
Ralston Reports
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Tesla automobile

It’s a little early to declare the winners and losers of Session ‘17, but one company seems destined to have quite the windfall bestowed for the second time in less than three years.

This may be a state built on mining and transmuted into one based on gaming. But more and more, Nevada is The Tesla State.

Just look at what shadow Gov. Elon Musk has been able to achieve since the Legislature convened in September 2014: In that special session, the Musk-led Tesla garnered $1.3 billion in tax breaks, a deal widely lauded and lambasted that lawmakers approved to secure the gigafactory in Storey County.

Since then, Musk has purchased his cousin’s SolarCity, which is about to benefit from what is estimated by NV Energy to be a -- wait for it -- $1.3 billion subsidy over 20 years for the companies providing renewable energy in the form of those gleaming panels. A rooftop solar bill is expected to pass the Senate this week.

$1.3 billion here, $1.3 billion there -- pretty soon, you’re talking about real money.

Can’t wait for the $1.3 billion gift to SpaceX on the 2019 Legislature’s agenda.

Disclosure: NV Energy has donated to The Nevada Independent. You can see a full list of donors here.

 

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