Articles filed under Taxes & Subsidies from California
California increasingly is depending on solar energy to meet its commitments to reduce greenhouse gas emissions under the state's landmark 2006 global warming law. According to regulators, utilities received 30% more bids for solar power projects in 2008 than in the previous year while wind farm proposals dropped by half and "very few" geothermal tenders were filed. The fact that utilities received 24,000 megawatts' worth of renewable energy bids last year (more than enough, if built, to meet the 33% renewable energy target) speaks to the frothy state of the market.
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.
According to an article printed in the Deseret Morning News on Dec. 21, the wind farm planned for the Milford area will receive tax subsidies from the state of Utah to the tune of $4.3 million. Since all of the electric power from this subsidized project will be sent to California, it is akin to exporting Utah money, by wire, to the Golden State.
As California takes its first baby steps toward implementing the most aggressive climate-change policy in the country, experts debate the economic feasibility of attaining the state`s goals. Its overarching policy lies in the California Global Warming Solutions Act of 2006, which requires greenhouse gas emissions in the state to fall back to 1990 levels by 2020. One of Gov. Arnold Schwarzenegger`s executive orders, S-3-25, addresses long-term goals by aiming at an 80 percent emissions reduction below 1990 levels by 2050. The state`s ability to reach these goals holds implications not only for Californians, but the rest of the nation`s climate-change policy as well, Samuel Thernstrom, director of the American Enterprise Institute`s program on culture and freedom, said at a panel discussion last week.
Wind turbines flourishing in California's Altamont and Tehachapi passes need tighter federal regulation, environmentalists told lawmakers Tuesday. Wind energy officials disagree. Thus the battle is joined, at a politically sensitive time. With tax credits up in the air and a long-awaited study arriving on how wind turbines kill birds and bats, strong opinions are blowing across Capitol Hill. As often happens, the central policy question pits rules against recommendations.
California's innovative financing plan to help relatively small renewable energy firms get their power to market over high-voltage transmission lines won approval from federal regulators on Thursday. Developers of new power plants generally pay the cost for building high-voltage "trunklines" to connect their plants to utilities that deliver the power to consumers. But most renewable energy companies are smaller firms that develop wind, solar or geothermal resources in remote locations that need new lines, which they often cannot afford to build. The U.S. Federal Energy Regulatory Commission gave the OK for the California Independent System Operator to spread the cost of building the new lines among the utilities that receive the power.
California property owners are poised to gain yet another reason to go green. In a decision closely watched by the solar industry, the California Public Utilities Commission recently signaled its intent to award the ownership of credits earned from renewable energy sources to the residential and commercial owners of such systems — and not to the utility companies. If this preliminary decision by the PUC becomes final during its Jan. 11 meeting, it will allow the state to establish a market where these renewable energy credits can be bought and sold. The PUC has wrestled with the question of who owns the credits for the past two years.
Californians voted down a proposition that would have imposed a tax on oil companies drilling in the state. Fifty-four percent of voters rejected the initiative.
The temptation for Silicon Valley voters would be to ignore the intricacies of the proposition and simply decide a ``yes'' vote would send a message to oil companies and to the world that California intends to lead the way in developing alternative energy sources. That would be a mistake. We strongly support the concept of Silicon Valley entrepreneurs helping California research and develop technological breakthroughs that will eliminate our foolhardy reliance on Middle East oil. But two fundamental flaws in Proposition 87 force us to recommend a ``no'' vote.
Western Wind Energy Corporation has reviewed the wind energy marketplace across the United States and has determined to seek new wind energy development opportunities in California. The strategy is focused at 30 sites totaling over 1,200 Megawatts.
Hollywood celebrities, Silicon Valley tycoons and energy companies are waging a multi-million dollar campaign battle over plans for a Californian oil tax. They are fighting over Proposition 87, which proposes raising $4bn (£2.1bn) to fund alternative energy projects by taxing oil production in California....... Backers of the proposition claim it will fund a $4bn programme aimed at reducing the state's petrol consumption by 25%, promoting wind, solar and bio fuel energy alternatives and reducing air pollution. Its critics say the tax will drive up petrol prices, increase California's reliance on foreign oil and create an unaccountable bureaucracy to spend the proceeds.
Wells Fargo & Co. became the largest corporate purchaser of renewable energy in the country after an agreement to buy renewable energy certificates to support wind energy.
WHO wouldn't like to hit Big Oil where it hurts - in the wallet? Proposition87, however, could end up costing the state and taxpayers for years to come. While promising to bring in close to a half-billion dollars annually from taxes on oil drilling in California, none of those dollars will go in the treasury. Not one penny will be used to pay down the state's debt, ensure education funding or provide more health insurance to working families. Likely, California's property taxes and corporate income taxes could be reduced if oil producers decide to pump less of the black gold from California fields to avoid the extraction tax. Also, Californians aren't likely to see any immediate benefits from the measure for many years. That's because proceeds from the tax would fuel a $4 billion program for alternative energy research and provide start-up capital for technology companies.
Wind farms in Kansas, Nebraska and California will play a role in Colorado Springs Utilities’ compliance with a voter-approved mandate on renewable energy. But homes and businesses in Colorado Springs won’t be getting electricity produced by harnessing wind in those places. Instead, renewable energy credits will be logged into Colorado Springs Utilities’ books.
"Wind is more an intermittent energy supply," said Amy Morgan, a spokeswoman for the California Energy Commission, which certifies solar and wind systems that are eligible for state tax credits. Morgan said only about 2 percent of the applicants asking for tax credits are using wind energy. Most are choosing solar.
SACRAMENTO - California voters will decide in November whether oil companies should pay for a program that advances clean energy and alternative-fuel vehicles.
California's investor-owned utilities will be allowed to pass on to customers the costs of building lines to transmit renewable power from sources such as wind farms, the California Public Utilities Commission ruled Thursday.
Carpinteria CEO envisions a future powered by turbines. With oil and gas prices relentlessly rising -- and the cost of producing power from sustainable energy sources continuing to fall -- it appears the time is fast approaching when alternative energy begins to make good economic as well as environmental sense.