Economic Realities

 While the Pronghorn H2 Project is being sold as a transformative investment in clean energy, the true economic implications for Converse County and the surrounding region are far more complex — and potentially far more costly. A careful review reveals significant concerns about long-term financial viability, hidden taxpayer burdens, and a disproportionate economic risk to local communities.  At first glance, the Pronghorn H2 Project appears to offer a win-win: jobs, energy, and innovation. But under the surface lies a high-risk financial model, public subsidies driving private profit, and lasting economic damage to the very communities the project claims to benefit. 

 Developers of the Pronghorn H2 Project have made bold claims about job creation, local revenue, and economic stimulation. However, similar wind projects across Wyoming — including those in Albany, Carbon, and Converse counties — have consistently failed to meet their financial projections. Promised tax revenues have often fallen short, and estimates used in early-stage approvals typically favor developers rather than communities.

In reality, many of these projects are burdening counties with unexpected costs and underfunded mitigation plans that leave taxpayers holding the bag.

The Pronghorn H2 Project’s economic model depends heavily on federal tax credits and subsidies rather than on proven profitability or reliable market demand. These include:

• Section 45V Clean Hydrogen Production Tax Credit – up to $3/kg of hydrogen produced. 
• Section 48 Investment Tax Credit (ITC) – up to 30% of the cost of wind, solar, and electrolyzer infrastructure. 
• Section 30C Credit – covering up to 30% of refueling infrastructure costs. 
• Potential access to Regional Clean Hydrogen Hub funds and Advanced Energy Project Credits.

 While these incentives can be helpful for launching innovative technology, they also mask the project’s actual financial risk. Without continued taxpayer support, many doubt whether the hydrogen production and SAF synthesis process is viable on its own — raising questions about long-term sustainability.

Behind the scenes, Pronghorn H2 brings with it a series of unacknowledged costs:

• Road construction and maintenance for heavy equipment and constant facility traffic, for thirty-five years. 
• Increased demand on emergency services, including fire, medical, and hazardous materials response — all of which may require upgrades in equipment, training, and staffing, for thirty-five years. 
• Administrative oversight and regulatory compliance, which place strain on already limited county and municipal resources, for thirty-five years.

These hidden costs are often not included in economic projections shared with the public, but they will be very real for taxpayers - for thirty-five years.

The presence of large-scale wind turbines, expansive solar farms, and an industrial hydrogen refinery is projected to decrease property values for nearly one hundred non-participating landowners. Studies have shown that properties near such developments — especially those within view or audible range — can experience value reductions from 11% to as much as 40%, depending on proximity and land use.

In the Pronghorn H2 project area, properties currently valued at over $100 million will see dramatic declines. One financial model estimates the total loss in market value over the project’s proposed 35-year lifespan could approach $600 million, with a corresponding reduction in tax revenue exceeding $50 million.

 A crucial economic risk often ignored is who will pay to clean up if the project fails or reaches the end of its life. Without robust decommissioning funds guaranteed upfront, the burden of dismantling turbines, removing solar infrastructure, and remediating contaminated land may fall to local governments and landowners.

Too often, these long-term liabilities are underfunded or ignored, especially in projects built around speculative technology.

Unlike traditional wind and solar farms that feed into the grid, the energy generated by Pronghorn H2’s wind and solar facilities will be used internally to produce hydrogen — bypassing conventional energy taxation mechanisms. That means fewer economic benefits flow back to the county or state despite the land being consumed and altered by energy infrastructure. 

 Wyoming deserves energy projects that create real, sustainable value — not speculative ventures propped up by temporary incentives and exaggerated promises. Before public lands, community resources, and taxpayer dollars are committed, residents must demand:

• Transparent financial disclosures 
• Independent economic impact assessments 
• Legally binding decommissioning guarantees 
• Fair compensation for property value losses and infrastructure strain

The future of our region’s economy shouldn’t be gambled on uncertainty. It must be built on facts, fairness, and long-term accountability.