Articles filed under Taxes & Subsidies from Oklahoma

Bill introduced to end wind tax credit

A senator from the windswept state of Oklahoma wants to remove a tax credit for wind energy from the tax code. ...Lankford contends the tax credit has outlived its usefulness and is a redundancy since 37 states already provide incentives for wind energy production. He said wind generation has grown 5,000 percent since the tax credit was instituted in 1992.
8 Oct 2015

Reaching for the wind to power Memphis

It comes down to whether TVA decides to step up its purchase of wind energy. Fracking has made natural gas abundant and cheap to burn in electric plants. Wind appears costly without tax breaks. But energy analysts figure gas prices eventually will rise. And long-term wind power contracts could lock in prices below the ultimate level gas reaches in a decade or more.
19 Jul 2015

Oklahoma wind industry looks to finish projects before tax incentives end

Tax exemptions and tax credits for wind energy cost the state nearly $49 million last year. Left unchanged, the price tag would have reached $77 million by 2018, according to estimates from the Oklahoma Tax Commission. Wind developments, however, still qualify for Zero Emission Tax Credits, which drew some of the heaviest criticism from Mosier and other opponents of wind subsidies because they are “open-ended.”
16 Jun 2015

Good winds blowing

Senate Bill 498 by state Sen. Mike Mazzei, R-Tulsa, and Sears, signed May 20, repeals the ability of the wind industry to qualify for a five-year property tax exemption. This provides a good start in addressing the magnitude of industrial wind’s subsidies and negative impact on Oklahoma’s budget.
29 May 2015

Legislation would cut Oklahoma's property tax exemption for new wind power plants

Under Senate Bill 498, the state would no longer offer a five-year property tax exemption for new wind energy developments. Existing wind facilities would keep the exemption. Sen. Mike Mazzei, R-Tulsa, one of the authors of the bill, said the legislation is needed because Oklahoma tax incentives for the wind power industry have grown more rapidly than intended.
16 Apr 2015

Wind energy bills continue to progress

“These credits were originally approved to encourage job growth through incentives for what was then a fledgling industry in this state,” Mazzai said. “That is no longer the case, so in a time of limited state resources, revisiting those incentives to ensure the benefits do not outweigh the cost is a responsible approach on behalf of Oklahoma taxpayers.
12 Mar 2015

It's time to drop the wind energy subsidies

To AWEA, project standstills are reason to revive the $23 per megawatt hour tax credit. But 22 years of tens of billions in subsidies is plenty. Oklahoma’s subsidies pale compared with Uncle Sam’s, but they’re still oversized. The industry says Oklahoma wind subsidies to date have been $120 million. With 1,711 operating windmills, that’s $700,000 per windmill. Plus Oklahoma pays additional amounts for each year a windmill operates.
31 Oct 2014

Dank blasts last minute tax credits

Dank said the wind tax credits, among the most costly issued by state government, benefit some companies that are selling the power they generate to other states. "The Oklahoma taxpayers are being asked to subsidize electric customers in Tennessee and Alabama," he said.
20 May 2013
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