News
Category:
Impact on Economy and Tax Breaks & Subsidies
Browse in :
All
> Topics
> Impact on Economy
(423)
All > Topics > Impact on Economy > Tax Breaks & Subsidies (945)
Any of these categories
All > Topics > Impact on Economy > Tax Breaks & Subsidies (945)
Any of these categories
State officials deliberately underestimated the cost of Gov. Ted Kulongoski's plan to lure green energy companies to Oregon with big taxpayer subsidies, resulting in a program that cost 40 times more than unsuspecting lawmakers were told, an investigation by The Oregonian shows.
Records also show that the program, a favorite of Kulongoski's known as the Business Energy Tax Credit, has given millions of dollars to failed companies while voters are being asked to raise income taxes because the state budget doesn't have enough to pay for schools and other programs.
Also filed under [
Oregon]
KU and sister company Louisville Gas and Electric Co. plan to purchase wind power from the breezy prairie of northern Illinois to help meet what they expect will be federal requirements to increase their use of renewable energy.
Last month, they asked the Kentucky Public Service Commission for permission to add a "renewable resource clause" to customer bills so they can recover the costs of the pricier wind power and transmission.
With little precedent, cost of wind power up in the air
October 17, 2009 by Alex Kuffner in Providence Journal
October 17, 2009 by Alex Kuffner in Providence Journal
The main point of contention in the contract talks between National Grid and Deepwater Wind is the price of electricity generated by the proposed wind farm off Block Island.
Deepwater has quoted a price of between 20 and 25 cents per kilowatt-hour. National Grid has calculated the cost, with adjustments over time, to be closer to 30.7 cents per kilowatt hour. Either price is much higher than the 9.2 cents per kilowatt-hour that National Grid pays for power mainly from natural gas plants. So far, the utility has refused to pay the higher cost for wind energy, saying it's simply too much.
Also filed under [
Rhode Island]
New global investment in clean-energy companies fell 22 percent in the third quarter as government financing was offset by tight credit markets, according to new research released Friday.
From July to September, new global investment totaled $25.9 billion, down 22 percent from a year ago and off 9 percent from the second quarter, according to London-based New Energy Finance, a global research firm.
It might take a lot of green to be 'green'; Renewable energy costs still double that of fossil fuels
August 27, 2009 by James Chilton in Kingman Daily Miner
August 27, 2009 by James Chilton in Kingman Daily Miner
The Arizona Corporation Commission has a mandate in place requiring that at least 15 percent of the state's energy come from renewable sources by the year 2025.
But despite its intention to wean the state off fossil fuels, the move has drawn vocal criticism from free-market advocates such as the Goldwater Institute, which claims the mandate will cost utility customers billions over the next 15 years.
Also filed under [
Arizona]
Freedom residents who hoped the wind turbines on Beaver Ridge would bring a lower tax bill got a surprise this year as other factors sucked up most of the windfall. ...Freedom town officials, with help from the state, valued the Beaver Ridge development at $9.7 million and the Central Maine Power transmission lines running up the ridge at an additional $480,000. But the value added to the town made barely a dent in the mill rate, which went from 17 to 15.5.
Also filed under [
Maine]
Wind farms generate a lot of electricity, but not a large number of permanent jobs once the construction phase is over.
And although the projects are desirable because they use an abundant renewable natural resource, the only significant revenue the units are generating in Wyoming at this point is through property taxes in the counties where they are located.
Their property tax bills so far are modest.
Also filed under [
Transmission|
Wyoming]
Rate hike needed to afford cleaner energy, SRP says
July 11, 2009 by Ryan Randazzo in The Arizona Republic
July 11, 2009 by Ryan Randazzo in The Arizona Republic
Salt River Project announced Friday that it was considering raising electricity rates 8.8 percent, opening the next chapter in a long string of rate hikes to hit Arizona consumers over the past decade.
But it also offered a glimpse of the future, where more energy will come from cleaner, renewable sources - but will come at a premium.
If approved, the increase could go into effect in October.
Also filed under [
Arizona]
The U.S. government is committing billions of dollars to support renewable energy such as wind- and solar-power plants. Some say it should use more of that financial clout to encourage less energy consumption in the first place.
Advocates of conservation, including businesses that help homeowners and companies save energy, think there should be more subsidies and tax incentives for basics like insulation and window shading, and for newer, more costly products like light-emitting-diode lamps and building-automation systems.
Also filed under [
USA]
Montana-Dakota Utilities Co. and Otter Tail Power Co. estimate the current rules could drive up their customers' monthly bills by 18 percent to 30 percent annually.
If the problem is not remedied, it could undermine public backing for wind power development in North Dakota, Public Service Commissioner Tony Clark said. The state has more than 700 megawatts of wind generation capacity, with more than 3,000 megawatts of projects planned.
Also filed under [
North Dakota]
House whips up new wind-tax plan
April 17, 2009 by Heather J. Carlson Post-Bulletin in Post-Bulletin
April 17, 2009 by Heather J. Carlson Post-Bulletin in Post-Bulletin
Austin Democrats are hammering out a compromise with party leadership that would boost wind tax revenue for townships at the expense of school districts.
Reps. Robin Brown and Jeanne Poppe have been fighting to restore a wind tax benefit for schools set to expire on July 1. Last year, Minnesota schools received $146,000 from the wind energy production tax.
Also filed under [
Minnesota]
Controversy erupts over districts not sharing windfall from wind farms
April 3, 2009 by Danny Robbins in Star-Telegram
April 3, 2009 by Danny Robbins in Star-Telegram
Property values are soaring in this West Texas community, and the reason is obvious. Looming on the northern horizon, hundreds of new wind turbines dot the once-barren hills.
Ordinarily, much of the tax dollars generated by the turbines would go to the state's "Robin Hood" school finance plan, which requires property-rich districts to share their wealth with those less fortunate. But that won't happen in Sterling City, at least not if school officials have their way.
Also filed under [
Texas]
The Cattaraugus County Legislature will be represented on a panel that will work with town and school delegates to set up a tax-exemption policy for the Cattaraugus County Industrial Development Agency’s wind farm projects.
A blanket state tax exemption for wind farms and other alternative energy systems was lifted in the county by the Legislature in 2008 following a lengthy debate.
Also filed under [
New York]
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.
Will the stimulus work? It will help, but don't expect quick turnaround for jobs, economy
February 11, 2009 by Jeannine Aversa in Chicago Tribune
February 11, 2009 by Jeannine Aversa in Chicago Tribune
No, the big stimulus plan won't "save or create 3.5 million jobs," as the president and congressional Democrats claim - at least not this year. The economy will remain feeble through 2009, analysts warn, and businesses will keep shedding jobs ...The stimulus agreement, heading for final votes in the next day or so, goes to the heart of President Barack Obama's strategy to revive the economy and will go far in shaping how Americans view his economic leadership.
What it won't do is quickly snap the country out of the painful recession, now in its second year.
Also filed under [
USA]
Gargantuan London Array offshore wind farm in doubt as E.ON questions economics
January 26, 2009 in Power Engineering
January 26, 2009 in Power Engineering
According to the Financial Times, E.ON UK, the British arm of the German energy group, said the viability of its London Array project, a planned 1000 MW wind farm in the Thames estuary, had been called into question by the falling prices of oil, gas and carbon dioxide emissions permits. ...Centrica, the owner of British Gas, estimates that each megawatt of wind power capacity costs about £3m to build: more than the equivalent cost for a nuclear power station.
Also filed under [
UK]
Xcel plan oversold in 2000; Investigation says wind overbilling went on for years.
December 27, 2008 by Andy Vuong in The Denver Post
December 27, 2008 by Andy Vuong in The Denver Post
Xcel Energy oversold wind energy credits as far back as 2000 for a program in which customers voluntarily pay a premium for wind-generated power, according to an investigation by Colorado Public Utilities Commission staff.
A settlement is looming related to Xcel's excess collections for the Windsource program from 2005 to 2007, which was disclosed earlier this week.
Also filed under [
Colorado]
Xcel overbilled for wind plan; Company balks at PUC suggestion to refund more than $1.5 million to program's funders
December 23, 2008 by Andy Vuong in Denver Post
December 23, 2008 by Andy Vuong in Denver Post
Xcel Energy overcollected more than $1.5 million from customers who voluntarily pay a premium for wind- generated electricity, according to the Colorado Public Utilities Commission staff.
From 2005 to 2007, the state's largest utility sold credits for more green power than it generated at the wind farms in its Windsource program.
Xcel knew it would have a production shortfall in the program but "failed to act".
Also filed under [
Colorado]
The alternative-energy sector has run smack into a credit crisis, probably a recession as well, and almost all industry experts think the fourth quarter is going to be worse. ...The reality today is that it's more expensive to produce renewable energy than it is from traditional resources, and consumers suddenly strapped for cash will start moving away, said Jerry Taylor, a senior fellow at Cato Institute.
Even proponents are slowing the move toward alternative energy, at least for the moment.
Also filed under [
USA]
Also filed under [
Maine]