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According to various reports these incentives were scrapped as many developers took incentives to save tax and after the completion of incentives either neglected or abandoned the wind farms altogether.
Also filed under [
Tax Breaks & Subsidies|
Asia]
Speculation the project could end up “dead in the water” intensified when Swedish company Vattenfall – Europe’s sixth-largest generator of electricity – announced plans to put its 75 per cent stake in the venture up for sale.
Also filed under [
Tax Breaks & Subsidies|
UK]
AWEA is trying to secure more stable policy to give stronger signals to investors. Those options include a phase out for the credit and making the incentive permanent ...But Republicans have told The Hill they believe a phase out is AWEA's stance.
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Tax Breaks & Subsidies|
USA]
Power companies operating wind farms in Scotland were paid more than £1 million to shut down their turbines for a single day last month, Scotland on Sunday can reveal. ...The so-called "constraint payments" are paid by the National Grid to energy companies when energy supply outstrips demand - turbines are switched off so they stop producing electricity to rebalance the system.
Call to phase out production tax credit gathers pace
May 1, 2013 by Diane Bailey in Windpower Monthly
May 1, 2013 by Diane Bailey in Windpower Monthly
As the $0.023/kWh production tax credit (PTC) is back on a countdown to expiration just months after US Congress passed a short-term extension of the incentive, some in the US wind sector are weighing whether negotiating its eventual demise may be the only way to put the industry on a stable footing for the long term.
Also filed under [
Tax Breaks & Subsidies|
USA]
Origin CEO Grant King says carbon tax, renewables targets hurt industry
May 1, 2013 by Michael Bennet in The Australian
May 1, 2013 by Michael Bennet in The Australian
The boss of Origin Energy, one of the nation's largest energy providers, has called for a review of Australias renewables targets along with the carbon tax, which he said put the nation at an increasing competitive disadvantage .
PTC clarity to ease renewable energy additions, questions remain
April 30, 2013 by Conway Irwin in AOL News
April 30, 2013 by Conway Irwin in AOL News
PTC eligibility for 2013 also requires that project developers demonstrate that projects be under "continuous construction" from 1 January 2014 until completion. This marks a change from the cash grant system - which gave renewable energy project developers the option to receive 30% of project costs up front in lieu of a tax credit - for which projects were eligible using the Safe Harbor Rule or by being under continuous construction.
Also filed under [
Tax Breaks & Subsidies|
USA]
Siemens says German energy switch on track for failure on costs
April 30, 2013 by Stefan Nicola in Bloomberg News
April 30, 2013 by Stefan Nicola in Bloomberg News
Germany is burning more coal because gas plants are not economical, subsidies for renewables are pushing up power prices, and a greater share of fluctuating renewables threaten the stability of electrical grids, Michael Suess, chief executive officer of Siemens Energy, said.
Ag industry concerned about renewable energy bill that would increase electricity costs
April 27, 2013 by Eric Brown in Greeley Tribune
April 27, 2013 by Eric Brown in Greeley Tribune
"This would just be terrible for the dairies around here," said Weld County Commissioner and Platteville-area farmer Doug Rademacher, who added that Weld County's five-member Board of County Commissioners has spoken out against Senate Bill 252. "It would really be disastrous for all of ag. A farmer told me the other day this could increase his electricity costs for (groundwater) pumping by about $8,000 per month."
Dummer residents oppose PILOT agreement with wind farm owner
April 24, 2013 by Barbara Tetreault in Berlin Daily Sun
April 24, 2013 by Barbara Tetreault in Berlin Daily Sun
At the end of an almost two hour informational meeting on a proposed payment-in-lieu-of taxes agreement with Granite Reliable Power, selectmen asked how many in the crowd of about 30 support that approach. Only three people raised their hands. The majority said they favored the town annually appraising the wind farm property based on its ad valorem or fair market value.
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Tax Breaks & Subsidies|
New Hampshire]
"With the instability, uncertainty and lack of direction related to the issues pertaining to wind energy throughout the State, the Huron County Board of Commissioners will not schedule any additional wind turbine action on the Board's agenda until there is resolution to these issues," the letter states.
Healey noted that the landowners near the proposed wind farms had submitted expert opinion estimating that drop in land values of 20 to 50 per cent.
She said the landowners can file a damage claim when the project clears all of its regulatory approvals.
U.S. States turn against renewable energy as gas plunges
April 23, 2013 by Christopher Martin in Bloomberg News
April 23, 2013 by Christopher Martin in Bloomberg News
Sixteen of the 29 states with renewable portfolio standards are considering legislation that would reduce the need for wind and solar power, according to researchers backed by the U.S. Energy Department. North Carolina lawmakers may be among the first to move, followed by Colorado and Connecticut. ...Repealing the state's RPS policy "would help increase disposable income, attract more business investment and make energy more affordable for consumers."
But with the slashing of two gas plants in the greater Toronto area leaving taxpayers on the hook for hundreds of millions of dollars, Hudak said it's critical to cut wind subsidies before the cancellation fees mount.
"That's why we've got to stop now," he said. "We've got to turn off the tap. Otherwise the costs are going to be even higher down the road.
Also filed under [
Tax Breaks & Subsidies|
Canada]
PTC Update: IRS clarifies 'commence construction' requirements
April 17, 2013 by Mark Del Franco in North American Windpower
April 17, 2013 by Mark Del Franco in North American Windpower
Under the IRS notice for PTCs, Burton explains, the tax-equity investor will need to consider not only whether 5% of a project's costs have been incurred, but also whether continuous construction was undertaken starting Jan. 1, 2014. "Continuous construction introduces an additional subjective element that requires an incremental layer of analysis for tax-equity investors and their counsel to grapple with," he says.
Also filed under [
Tax Breaks & Subsidies|
USA]
IRS defines start of construction for the Production Tax Credit
April 16, 2013 by Keith Martin and John Marciano in Chadbourne & Parke
April 16, 2013 by Keith Martin and John Marciano in Chadbourne & Parke
The Internal Revenue Service explained today what developers must do this year to be considered to have started construction of new renewable energy projects.
The IRS adopted roughly the same definition for start of construction as under the Treasury cash grant program.
Also filed under [
Tax Breaks & Subsidies|
USA]
A Federal Court decision has triggered a South Australian parliamentary investigation into whether wind farms can devalue neighbouring properties.
The terms of reference have been expanded for a select committee looking into wind farm developments.
IRS sets wind tax credit regulations for 2013 projects
April 16, 2013 by Richard Rubin & Christopher Martin in Bloomberg News
April 16, 2013 by Richard Rubin & Christopher Martin in Bloomberg News
The Internal Revenue Service completed rules today that define how wind-farm developers can qualify for tax breaks.
Under a law signed by President Barack Obama in January, wind projects must begin construction by Dec. 31 to qualify for the production tax credit. That's looser than the standard from previous years, which required energy production to qualify.
Also filed under [
Tax Breaks & Subsidies|
USA]
GOP hopes to take some of the wind out of industry’s government aid
April 15, 2013 by Nick Juliano in E&E News
April 15, 2013 by Nick Juliano in E&E News
Also filed under [
Tax Breaks & Subsidies|
USA]
Congress is slowly but steadily drilling into energy policy tax issues, but anyone hoping to see detailed plans soon may be disappointed.
"Like any good play, you have to set the scenes, and we'll see what happens in the final act," said Steve Nadel, executive director for the American Council for an Energy-Efficient Economy.
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