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Tough times ahead for wind industry, regardless of tax credit renewal - analyst
October 9, 2012 by Robert S. Eshelman in E&E News
October 9, 2012 by Robert S. Eshelman in E&E News
The clean energy sector is closing the gap on fossil fuels, but the wind industry faces significant challenges and could see a free fall in new construction over the next three years, said Ethan Zindler, head of policy analysis at Bloomberg New Energy Finance.
Also filed under [
USA]
County wants guarantees before it OKs wind deal
April 7, 2012 by Kate Hessling in Huron Daily Tribune
April 7, 2012 by Kate Hessling in Huron Daily Tribune
Exelon officials told county planners the company will follow the same format set by DTE Energy, which included a third-party surety bond as well as a corporate guarantee. Exelon officials said the financial assurance it originally offered is the same the company used in other projects. It's not acceptable to the county and the company understands that.
Also filed under [
Michigan]
The state, often rated as having the greatest wind potential in the nation, now has about 1,400 megawatts of total wind capacity. ...But notices of intent for new wind farms have stalled since last fall and development has slowed in recent months.
Also filed under [
USA|
North Dakota]
Wind turbines becoming fixture of Wessington Springs horizon
December 20, 2010 by Roger Larsen in The Plainsman
December 20, 2010 by Roger Larsen in The Plainsman
All of the tax credits that help wind power become affordable to consumers are directed in hopes of having tax benefits, but the cooperatives don't pay taxes and haven't been eligible.
But as part of the federal stimulus package, the Treasury Department created a renewable energy grant program that provided an opportunity for South Dakota Wind Partners to develop a community-based wind project so average people could invest.
Also filed under [
South Dakota]
Renewable industry increases giving, will benefit from tax package
December 16, 2010 by Anne C. Mulkern in E&E Daily
December 16, 2010 by Anne C. Mulkern in E&E Daily
The businesses and trade groups have also lobbied zealously for extensions of tax incentives that ultimately were included in the tax legislation likely to pass a House vote. Businesses and lawmakers, however, said there is no connection between contributions and votes. ..."... in the case of [renewable grant program] Section 1603, some of the candidates to whom we made contributions ended up supporting the policy, while others ended up opposing it. If policy outcomes depended solely on dollars spent, clean energy would lose every time."
Also filed under [
USA]
Commissioners seek data on wind project's employment potential
October 7, 2010 by Erin Rhoda in Morning Sentinel
October 7, 2010 by Erin Rhoda in Morning Sentinel
The three elected commissioners asked First Wind officials on Wednesday night to provide them at future meetings with information about the number of jobs that could be created. They also wanted to know whether the creation of a tax-incremental financing district would cause the county as a whole to lose revenue.
Also filed under [
Maine]
Sen. Lamar Alexander calls Mass. offshore wind farm 'a taxpayer rip-off'
May 24, 2010 by Michael Collins in Knoxville News Sentinel
May 24, 2010 by Michael Collins in Knoxville News Sentinel
Clean-energy proponents who want to reduce the country's dependence on fossil fuels celebrated last month when the federal government approved the nation's first offshore wind farm off Cape Cod, Mass. ..."It's a taxpayer rip-off," the Maryville Republican said. "It creates a puny amount of very expensive electricity. Taxpayers in Tennessee will be paying extra for it because of the taxpayer subsidies. And it will destroy a very beautiful Nantucket Sound."
Also filed under [
USA|
Massachusetts]
In a mailing dated Tuesday, Upstate NY Power Corp. again painted a rosy picture of the proposed Galloo Island Wind Farm for Jefferson County legislators. ...Upstate NY Power Corp. plans to build an 84-turbine, 252-megawatt generation facility on Galloo Island. At the Nov. 24 meeting, nearly 40 people voiced strong opinions in favor of and opposed to the project.
Also filed under [
New York]
To meet a developer's request for speed, the Jefferson County Industrial Development Agency will begin laying out a property tax relief program for the proposed Galloo Island Wind Farm.
While the payment-in-lieu-of-taxes agreement will follow the formula developed for a uniform tax-exempt policy, JCIDA will not seek approval of the uniform policy now. That would require all affected taxing jurisdictions from the four proposed wind projects to sign on, which officials believe would take too long.
Also filed under [
New York]
A Canadian energy company and an arm of the U.S. Energy Department are working on a deal to complete financing for a proposed Montana-Alberta power line that would span 214 miles and carry power from the region's emerging wind industry, officials said Tuesday.
Also filed under [
Montana]
Germany's $143 billion wind farms jeopardized by tight funding
June 2, 2009 by Nicholas Comfort in Bloomberg News
June 2, 2009 by Nicholas Comfort in Bloomberg News
As much as 100 billion euros ($143 billion) in planned investments in German offshore wind farms are at risk as developers struggle to get funding, jeopardizing the deepest emissions cuts in the European Union.
Bochum's municipal utility expects its first wind park to be delayed by up to two years, Managing Director Bernd Wilmert said. HEAG Suedhessische Energie AG, a regional energy supplier known as HSE, had to go to twice as many banks as it would have needed last year to finance a 1.3 billion-euro North Sea wind farm, Chief Executive Officer Albert Filbert said.
Also filed under [
Germany]
Supervisors ask for $1.5 million in stimulus money to pay for wind energy consultants
March 5, 2009 by Anne Adams in The Recorder Online
March 5, 2009 by Anne Adams in The Recorder Online
Highland County supervisors agreed Tuesday they could use some help getting the proposed industrial wind energy utility here off the ground ...Toward that end, supervisor David Blanchard suggested the county ask for $1.5 million in stimulus package money to pay for consultants who could assist.
The 39-megawatt facility planned by Highland New Wind Development LLC has state and local permits to build and operate the plant, but there are strict conditions attached to each.
Also filed under [
Virginia]
After a week that smoothed the path for a proposed Coos County wind farm, a state attorney is asking for closer scrutiny of its financing.
Peter Roth, a senior assistant attorney general, has asked the state Site Evaluation Committee to suspend hearings to license the construction of 33 wind turbines along forested ridgelines. He said Granite Reliable Power has not shown it can pay for the $275 million project, a claim rebutted by an attorney for the company.
Also filed under [
New Hampshire]
The wind-energy boom has been seeded by federal and state tax credits that generally are most beneficial for wealthy investors, partnerships and corporations who might have unrelated income to offset. The federal stimulus bill appears to allow the tax benefits to be claimed by such a taxable pool, increasing profits and dividends to a lot of smaller owners, said Lee Schafer, director of investment banking at Northland.
Also filed under [
Minnesota]
The Naples School Board voted last week to accept an agreement with First Wind that would give the district higher payments on any windmills the company may build within the district boundaries. ...At this point, Macaluso said First Wind has put the project on hold because of finance troubles.
Also filed under [
Impact on Economy|
New York]
California study shows high cost of renewable power
November 7, 2008 by Bernie Woodall in Thomson Reuters
November 7, 2008 by Bernie Woodall in Thomson Reuters
If California expands its renewable power generation to be a third of electricity delivered in the state by 2020, it may cost $60 billion, the state's utility regulator said in a report issued on Thursday.
It is more costly to make electricity with renewable power -- solar, wind, geothermal and other sources that emit no or low amounts of global-warming greenhouse gases -- than with natural gas, nuclear and coal power plants. ...On Tuesday, California voters overwhelmingly -- 65 percent of the vote -- rejected a statewide ballot measure that would have required 50 percent of power to be generated from renewables by 2025.
Also filed under [
Impact on Economy|
California]
An Industry Ministry official said the energy watchdog would check how many wind and solar power plants were installed in time to receive full subsidies before official aid was cut.
"There are some signs that there may be fraud in the installation and functioning of wind and solar parks," the official, who asked not to be named, told Reuters.
Also filed under [
Europe]
Wind-tower builder asking DCOA for more money
October 26, 2008 by Doug Myers in Abilene Reporter News
October 26, 2008 by Doug Myers in Abilene Reporter News
Higher than expected construction costs has a wind-tower manufacturing company asking for more money -- $700,000, to be exact -- from the city of Abilene's economic development arm.
According to Development Corporation of Abilene records, Tower Tech Systems, Inc., now estimate construction and equipment costs will reach $27 million, or about $7 million more as was estimated in DCOA's original assistance package.
Also filed under [
Texas]
Officials in Sullivan County agree a wind farm would be a positive addition, but they don't agree on how much they should do to accommodate the company that would bring it there.
The county commission wants to create an enhanced enterprise zone to give Tradewind Energy the tax incentives they say they need. County Clerk Mike Hepler and Assessor Karen LaFever say the enhanced enterprise zone would leave the county short changed.
"To sell out too cheap is not representing the public interest, it's representing the private interest. I was elected to represent the public interest," Hepler says.
Also filed under [
Missouri]
Local law will allow tax on alternative energy systems
September 25, 2008 by Karthy Kellogg in Buffalo News
September 25, 2008 by Karthy Kellogg in Buffalo News
Cattaraugus County has retained its ability to tax alternative energy systems - including wind farms, solar energy systems and on-farm methane digesters - with a 16-2 vote for passage of a local law Tuesday.
The law applies to facilities within the county, including as many as four potential wind farm projects under consideration, and effectively disarms a state tax code provision exempting these energy sources from taxes. ...The vote came after residents and elected officials from the towns of Freedom, Machias and Farmersville stated their opposition in a 45-minute public hearing. Most said they were told the IDA's payment-in-lieu-of- taxes (PILOT) agreements will unfairly take a share of the wind farms' monetary payments.
Also filed under [
New York]