Articles filed under Taxes & Subsidies from USA

A $1 billion solar plant was obsolete before it ever went online

SolarReserve doesn’t rank among the winners. Instead, it’s mired in litigation and accusations of mismanagement at Crescent Dunes, where taxpayers remain on the hook for $737 million in loan guarantees. Late last year, Crescent Dunes lost its only customer, NV Energy Inc., which cited the plant’s lack of reliability. It’s a victim, ironically, of the solar industry’s success over the past decade. 
6 Jan 2020

A $1 billion solar plant was obsolete before it ever went online

SolarReserve doesn’t rank among the winners. Instead, it’s mired in litigation and accusations of mismanagement at Crescent Dunes, where taxpayers remain on the hook for $737 million in loan guarantees. Late last year, Crescent Dunes lost its only customer, NV Energy Inc., which cited the plant’s lack of reliability. It’s a victim, ironically, of the solar industry’s success over the past decade. 
6 Jan 2020

Port: I thought the wind industry didn't need subsidies any more?

The wind energy companies argue that the construction is being driven by the markets and demand. A more likely explanation is that there was a rush to build these projects in order to capitalize on a subsidy which was set to expire last year. Wind companies had to break ground on their projects before the end of the year to get in on it. I call it a bubble because that's what inevitably happens when the government creates artificial demand for something with a subsidy. We should build wind farms because they make sense for our energy grid, not to harvest tax dollars.
2 Jan 2020

Port: I thought the wind industry didn't need subsidies any more?

The wind energy companies argue that the construction is being driven by the markets and demand. A more likely explanation is that there was a rush to build these projects in order to capitalize on a subsidy which was set to expire last year. Wind companies had to break ground on their projects before the end of the year to get in on it. I call it a bubble because that's what inevitably happens when the government creates artificial demand for something with a subsidy. We should build wind farms because they make sense for our energy grid, not to harvest tax dollars.
2 Jan 2020

Disappointment for clean energy firms at U.S. spending bill

The wind power tax credit is currently worth 1.5 cents for every kilowatt-hour of electricity produced. The credit’s value began dropping in 2017 and was scheduled to be phased out completely next year. The extension will benefit developers of mainly land-based wind projects, but offshore wind proponents expressed frustration that there was no specific provision for their nascent industry.
1 Jan 2020

Wind farm windfall varies widely in state

The most recent figures available, from a 2017 study by Flatland, a Kansas City-based public broadcasting system, show payments to counties range from $1,000 to $6,500 per megawatt produced. Marion County’s agreements place it near the bottom for payments for wind farms in the state. 
31 Dec 2019

Next-gen wind farm stalls under PSC terms

A cutting-edge wind farm paired with battery storage cannot advance under what developers are calling unworkable terms set by Montana’s Public Service Commission. The PSC put the overall avoided cost of the energy at $6 a megawatt hour effectively killing the project, according Caithness.
30 Dec 2019

Councilman: Wind company could ask for new ERA

After millions of dollars were spent developing the project, the suit claims, the county revoked the project’s property tax incentives, adopted rules making a building permit impossible and then rushed to pass a zoning ordinance when the company threatened to sue. The county disputes Sugar Creek Wind’s complaints and said it would “vigorously defend” the suit.
11 Dec 2019

Mixed signals in Senate on year-end energy talks

While he welcomed the House’s inclusion of a multiyear phaseout of a biodiesel blenders credit that is a top personal priority as “good news,” Grassley pointedly questioned the extension of key wind and solar breaks that Congress enacted in 2015 on the condition they be phased down. “Both were considered a mature industry that could get by without a tax credit,” he recalled of the 2015 negotiations that led to the phaseout of the wind production tax credit and investment tax credit most commonly associated with solar. “I’m not sure why they’re extending that when the industry agreed to that.”
20 Nov 2019

Wind farm firm doubles payment offer to county

Expedition’s proposed of er pays twice the rate paid to Marion by Diamond Vista A draft of the proposed agreement between Marion County and developers of a proposed wind farm shows the company is offering twice the per-megawatt rate the county is paid by Diamond Vista wind farm in the northern portion of the county. The proposed rate is $1,800 per megawatt over the first 10 years the wind farm operates.
14 Nov 2019

Vineyard wind pushes IRS for subsidy extension on delayed offshore project

“Since the business case is being impacted by external delays, we are requesting an extension from the IRS for the originally planned ITCs of the project,” Torgerson told analysts. “We’re petitioning the IRS to get an extension of that ITC at the 24 percent level…through the 2022 timeframe.” The delay means Vineyard may be able to upgrade to longer rotor blades for its 9.5-megawatt MHI Vestas turbines, Torgerson said — jumping from a 164-meter rotor diameter up to 174 meters. Longer blades mean more electricity can be generated.
1 Nov 2019

Vineyard wind pushes IRS for subsidy extension on delayed offshore project

“Since the business case is being impacted by external delays, we are requesting an extension from the IRS for the originally planned ITCs of the project,” Torgerson told analysts. “We’re petitioning the IRS to get an extension of that ITC at the 24 percent level…through the 2022 timeframe.” The delay means Vineyard may be able to upgrade to longer rotor blades for its 9.5-megawatt MHI Vestas turbines, Torgerson said — jumping from a 164-meter rotor diameter up to 174 meters. Longer blades mean more electricity can be generated.
1 Nov 2019

Mixed messages on clean energy

That particular program ended in 2016, but investors who had projects in progress could keep taking the credits until they had used them up. Some people involved in solar projects created partnerships not only with energy companies but also with banks, insurance companies and other institutions that essentially bought the tax credits. Then last fall, the Revenue Department said it wasn’t going to allow the tax credits in some of those partnership deals that had been used to pay for solar energy projects.
29 Oct 2019

http://www.windaction.org/posts?location=USA&p=3&topic=Taxes+%26+Subsidies&type=Article
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