> Why do you say it's rent seeking?
Because that's what economists call it when you get something for nothing, as is the case with any subsidy. I'm not going to argue this point; interested readers can look up how these energy projects are financed. Windmills that are privately funded, including debt and risk show you where it actually makes sense to put a windmill.
> Offshore wind is efficient, turbine blades can safely be much larger giving 3x the output, turbine arrays have unobstructed space giving twice the capacity factor. It's more efficient than onshore.
Not going to argue with any of this, although you left out maintenance costs, and larger blades means more value at risk. I'm not convinced that your efficiency calculation is measured in dollars and not windmill hours.
I would caution any engineer types reading from pressing their nose too close to the details of a particular energy technology. Instead, it's better to focus on the business plan or economic shadow that a particular energy project leaves. Dollars go in and energy comes out. A bunch of money has to go in up front, then trickles of money slowly over time, and occasionally spikes of money have to go in randomly. In exchange there is a modest, predictable flow of money out, which eventually is larger than all the in-flows in the bull case. The question to ask is: how much in and out of dollars and of Joules at each point in time? How does that compare to hamsters on wheels, people on bicycles, and lighting things on fire?
> You appear to be starting from a premise that wind turbines don't generate profits?
This was never a stated premise, and my post starts with the opposite sentiment.