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Tax Breaks & Subsidies and New York
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Financial, economic issues will affect us for years to come
October 12, 2008 in Watertown Daily Times
October 12, 2008 in Watertown Daily Times
[W]e are being urged to support the construction of massive wind turbine farms all over this country. Why are these developers so eager to build these massive inefficient industrial complexes? Because our state and federal government are offering lucrative tax incentives to build them. Where do you suppose this money will come from? The taxpayers.
These international companies hire public relations firms to market their product. They love to use buzzwords such as: green energy, renewable energy, carbon exchange, global warming, etc., to lure you into thinking wind turbines are the answer to our energy needs.
Also filed under [
USA]
Probing Wind Farms: Burgeoning, vital industry must be kept free of taint
August 1, 2008 in Post-Standard
August 1, 2008 in Post-Standard
Every wind-generating power company in New York needs to come under closer scrutiny.
There is just too much public money at stake. An aggressive watchdog is needed to make sense of the complicated deals they make, to protect taxpayers and to monitor the conduct of public officials whose decisions can yield wind generators millions of dollars.
That's why a state attorney general's investigation of two wind-power companies is so important -- and why a critical, independent eye should be kept on the rest of the industry. ...These agreements need to above-board without even the hint of conflict.
Also filed under [
General]
"While renewable energy technologies can be more expensive than conventional sources in the first instance, the environmental, economic growth and public health benefits from their use justify the public investment," the Paterson report states flat-out.
I would argue that this statement should be viewed as a working hypothesis, and doesn't deserve yet to be considered a proven fact. How expensive is too expensive? Which conventional sources? Some are far more polluting than others, for example.
That quote from the report shows us the zeal of the alternative energies movement. With that zeal comes a touch of arrogance, because if you read through the Paterson report recommendations, there are thinly veiled justifications for running roughshod over local zoning and the opinions of those who actually have to live with solar panels, wind turbines or whatever. "The greater good" argument is just beneath the surface, and that makes me very nervous.
Also filed under [
Energy Policy|
Zoning/Planning]
Some Franklin County legislators were angry when the final tax-break agreement was reached for the Noble Chateaugay Windpark and Noble Bellmont Windpark.
During talks to determine how much Noble would pay taxing jurisdictions in lieu of full tax value, the Franklin County Industrial Development Agency, each township and the Chateaugay Central School District had representatives there, but no one apparently represented the county. ...We would seem to be in the middle of a jurisdictional collision. Individual taxpayers may compute or consult their tax bills to see where their allegiance lies, but, when the negotiations are eventually concluded, all parties should realize that the interests of those taxpayers are more important than it is for any of the boards to look good to their constituents by having forged the best deal.
This very much needs to be a cooperative arrangement.
Offshore wind farm too costly; solar power a wiser investment
September 5, 2007 in Asbury Park Press
September 5, 2007 in Asbury Park Press
Wake up, New Jersey, before more of your tax dollars are wasted on Gov. Corzine's offshore wind farm. ...In these hard financial times, our state and federal governments need to invest taxpayer dollars more wisely than they have. Alternative energy sources are needed, but they must make financial sense. Windmills on land are borderline cost-effective, and that's only because of energy subsidies. Windmills in the north Atlantic never will come close to recovering their cost.
If something doesn't make financial sense, we should be looking at who will benefit from its construction. New Jersey citizens will not benefit from this ocean wind farm. Electric costs will rise because of it. Someone needs to follow the money to see who will benefit.
Also filed under [
General|
New Jersey]
Much of upstate New York, from north of Albany to Buffalo, from the Catskills to the Adirondacks, is in danger of being transformed beyond recognition by industrial wind parks. Some 50 of these wind parks are being planned and even built.
All of this is being done in the name of clean energy and saving the planet. But it isn't clear that wind power is such a panacea in the battle against global warming that developers of these wind parks should be allowed to run roughshod over some of our loveliest land. What we need are statewide siting guidelines that take other environmental factors, including visual impacts, into consideration.
Also filed under [
General|
Impact on Wildlife|
Impact on Landscape|
Energy Policy|
Zoning/Planning]
So why, apart from the well-intentioned New York state legislators, who want renewable energy but don't understand the costs and inefficiencies, should the beautiful Catskills await the new industrial rapists? The claim of new jobs doesn't stand any scrutiny, since teams of contractors will be brought into the area and taken out again after the turbines have gone up.
No, the real reason that Goldman Sachs and other big mecantile financiers are backing the giant windmills are good old-fashioned tax breaks. The US government permits a triple depreciation for tax purposes on wind turbines, and those with enough capital can invest in tax shelters that use these depreciations to remove the tax on profits for other ventures.
In the words of one Catskills campaigner: "If I had the ability to invest $1 million in a wind farm, I could avoid paying taxes on another $2 million in profits from some other venture. Yup, that would save me half a million in taxes. Hmmmmm".
Maybe, when it comes to some of the solutions offered by well-intentioned environmentalists, it would be wise to examine the motivation of some of the lobbyists who profess to support them. It's still not too late for the Catskill Mountains.
Jordanville Wind Project Gets 80 Percent Tax Cut, But Provides Only 6-12 Permanent Local Jobs
December 15, 2006 in The Freeman's Journal
December 15, 2006 in The Freeman's Journal
Wind Project are two megawatt turbines, the taxation rate will be $16,000 per turbine.
The county’s consultant determined that the full taxation rate per turbine would be $40,000 per megawatt. Therefore, the county’s offer represents an 80 percent tax exemption.
This rate of exemption will apply to all wind projects in Herkimer County.
The Jordanville Wind project will bring “six to 12 jobs” to the county, according to the Jordanville Wind Project Draft Environmental Impact Statement.
By comparison, Wal-Mart brought over 200 jobs and generates over $1 million a year in sales-tax revenues at its distribution center in Schoharie County, which employs many Herkimer County residents.
Also filed under [
General|
Impact on Economy]
Testimony of The Business Council of New York State before The Assembly Committee on Energy The Assembly Subcommittee on Renewable Energy
March 21, 2006 in The Business Council of New York State
March 21, 2006 in The Business Council of New York State
Let me be clear from the start - we are not opposed to renewables. Our companies have been the beneficiaries of the state's most abundant form of renewable energy - hydropower. What we do object to is being forced to subsidize those renewables that are not cost competitive...............Adding significant amounts of wind power does not negate the need to add more baseload generation, to ensure system reliability during periods of peak demand.
Until we add significant baseload capacity in this state we are not likely to reap the benefits of a truly competitive marketplace where supply will respond to demand.
Also filed under [
General|
Energy Policy]
The legislature needs to be involved in the RPS process. It is a crime to raise hundreds of millions of dollars and then fritter it away on projects that in the end will not reduce emissions.
Also filed under [
Energy Policy|
Zoning/Planning]