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Wyoming nets more than $4.4 million in wind generated taxes

More than $4.4 million was generated from taxes on wind production across Wyoming in the last fiscal year, according to the state Department of Revenue.

RAWLINS, Wyo. — More than $4.4 million was generated from taxes on wind production across Wyoming in the last fiscal year, according to the state Department of Revenue.

Albany, Carbon, Converse, Laramie, Natrona and Uinta counties share in $2.7 million with the state’s portion of the revenue at slightly more than $1.7 million.

Loyd Drain, executive director for Wyoming Infrastructure Authority, said wind generation taxes benefit state and local governments, but at a cost.

“Wyoming wind is prolific,” Drain tells the Rawlins Daily Times. “I think we would see more interest in developing Wyoming’s world-class wind, but for this tax.”

However, there are positives, Drain added.

“Given the dynamics of California’s renewable energy policy, I personally think that the planets are aligning to make Wyoming wind more valuable,” he said. “California may raise its renewable portfolio standards from 33 to 50 percent.”

In related news, Update: PacifiCorp pleads guilty to Wyoming wind farm eagle deaths.

This year’s taxes from wind-generated electricity are the tip of the iceberg to state and local coffers. When the Chokecherry Sierra Madre Wind Energy Project’s 1,000 wind turbines... more [truncated due to possible copyright]  

RAWLINS, Wyo. — More than $4.4 million was generated from taxes on wind production across Wyoming in the last fiscal year, according to the state Department of Revenue.

Albany, Carbon, Converse, Laramie, Natrona and Uinta counties share in $2.7 million with the state’s portion of the revenue at slightly more than $1.7 million.

Loyd Drain, executive director for Wyoming Infrastructure Authority, said wind generation taxes benefit state and local governments, but at a cost.

“Wyoming wind is prolific,” Drain tells the Rawlins Daily Times. “I think we would see more interest in developing Wyoming’s world-class wind, but for this tax.”

However, there are positives, Drain added.

“Given the dynamics of California’s renewable energy policy, I personally think that the planets are aligning to make Wyoming wind more valuable,” he said. “California may raise its renewable portfolio standards from 33 to 50 percent.”

In related news, Update: PacifiCorp pleads guilty to Wyoming wind farm eagle deaths.

This year’s taxes from wind-generated electricity are the tip of the iceberg to state and local coffers. When the Chokecherry Sierra Madre Wind Energy Project’s 1,000 wind turbines come online, they could eventually bring in more $10 million in revenues annually, from wind generation alone.

Coupled with property taxes, and the sales and use tax, Chokecherry promises to be a financial boon to Carbon County, said Kara Choquette, communications director for the Power Company of Wyoming.

“This represents a very significant and positive financial impact for the county, all of the public entities that get a portion of the property taxes and all of the cities and towns that get a portion of the sales and use tax.” Choquette said. “Along with the generation tax, it’s in the hundreds and millions of dollars. That’s a pretty significant increase over what Wyoming is getting now from all of the wind turbines combined.”

Currently, Carbon County has 420 wind turbines in operation. The county’s share of the wind tax revenue is nearly $581,000.

“The money is not earmarked for anything in particular,” Carbon County Commission Chairman John Espy said. “It will go into the general fund. With the decrease in revenue from oil and gas it’s very important. It’s a nice $580,000 we wouldn’t otherwise have.”


Source: http://bakken.com/news/id/2...

FEB 24 2015
http://www.windaction.org/posts/42234-wyoming-nets-more-than-4-4-million-in-wind-generated-taxes
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