Library filed under Taxes & Subsidies from USA

Senate must reject extending tax credits for wind and solar power

The U.S. House of Representatives voted this week on a 2,300-page bill that includes tax breaks for wind and solar power that have already cost taxpayers a lot of money. The $1.5 trillion Moving Forward Act extended special tax breaks another five years for wind power and six years for solar power. These tax breaks are unnecessary, expensive and harmful to the electricity grid. They’ve also become a bad investment.
2 Jul 2020

The Energy 202: House Democrats push aid for wind and solar in new infrastructure bill

But the move also sets up a fight with congressional Republicans, who in the past have resisted efforts to extend the renewable tax credits. It's unlikely to pass in its current form in the GOP-controlled Senate. The legislation ...called the Moving Forward Act, extends a tax break for onshore wind developers for five years and one for solar developers for six years. 
23 Jun 2020

Trump administration gives renewables more time to take advantage of tax credits

N-20-41_ptc_itc_thumb The Trump administration is making it easier for renewable energy projects to take advantage of certain tax credits amid the coronavirus pandemic. The Treasury Department and Internal Revenue Service issued a notice Wednesday that said it would give some companies that started construction in 2016 or 2017 an extra year before they have to put their projects in service.
28 May 2020

Clean energy backers' anger grows as House ignores aid plea

Some industry trade associations and green groups appear content to wait for a future aid bill. But other clean energy backers say the House Democrats' latest $3 trillion bill blows another chance to help the ailing sector and at the same time push one of the party's top policy priorities of addressing climate change — and they're tired of waiting until next time.
21 May 2020

Trump admin slaps solar, wind operators with retroactive rent bills

The Interior Department had stopped charging the rents at the end of 2018 to review company complaints that former President Barack Obama’s administration had increased them too much, making them uncompetitive with rents on private property. The Interior Department declined repeated requests to comment on the outcome of that review, or the issuance of the retroactive rent bills. A budget document on the Interior Department’s web site shows it expects to collect $50 million in rent fees for wind and solar projects in 2020, up from $1.1 million in 2019 and $21.6 million in 2018.
18 May 2020

Wind energy researcher: Don’t extend deadline for wind projects

“Big wind does not have a COVID problem. It has a mismanagement problem,” Linowes told Texas Business Coalition. “Before the March 14 COVID shutdown, the industry was already reporting that 9,000 megawatts of 2016 safe-harbored turbines were expected to spill into 2021. This 9,000 megawatt spillover has nothing to do with COVID and everything to do with mismanaging delivery and construction timelines. Developers and (Iowa Sen. Charles) Grassley are shamelessly demanding taxpayers assume the price tag of their mismanagement. Such behavior should not be rewarded at our expense.”
26 Apr 2020

As Americans sicken and die, the wind and solar industries aim to capitalize on COVID-19

At the top of the list of craven business interests that angled for federal preferment was the wind and solar industries. Those who follow the news will remember that congressional Democrats, serving their green energy masters, worked hard to include language in the third (and biggest) coronavirus relief bill aimed at advancing key elements of the Green New Deal. ...When Americans began asking the obvious question — what does a pandemic and a recession have to do with carbon emissions? — the Democrats backed down. Now, they're back, salivating at the prospect of a fourth stimulus bill.
10 Apr 2020

Coronavirus unnerves US wind market during record year for construction

After a decade of dramatic ups and downs, 2020 was supposed to be a peak year for U.S. wind farm construction. Instead, with the coronavirus pandemic rattling supply chains and thinning workforces, things could get messy for an industry that should be taking a victory lap. Developers are poring over force majeure provisions in their contracts. Investors are nervous. Without political relief, projects could get canceled outright, industry figures say — and relief in Washington, D.C. looks anything but certain.
7 Apr 2020

COVID-19 threatens tax credits for billions in sun, wind energy projects

“We’re thankful that Congress rolled out the Phase Three relief program because the nation’s economy needs strong action to respond to the COVID-19 pandemic,” Kiernan said. “It’s unfortunate that we weren’t included in the package, and we’re beginning the process of reiterating our ask to be included in the Phase Four bill that will likely be drafted.”
6 Apr 2020

What the renewables industry wants from the next stimulus bill

Instead, they’re focusing on two key concepts. The first is extending "safe-harbor" deadlines for receiving the credits that may be thrown off track by the pandemic’s economic disruptions. The safe-harbor fix could potentially be made by the Treasury Department, without a need for congressional action. The second is allowing renewable projects to receive some of their tax credit value back as refundable credits or via "direct pay" provisions.
2 Apr 2020

Why Dems are so bent on passing wind amid corona crisis

That Congressional Democrats would push so hard for solar and wind subsidies at such a critical time for the US economy is particularly galling for two reasons. First, the wind industry already stands to collect some $33.75 billion in subsidies between now and 2029. Second, wind-energy development in some of the most-heavily Democratic states in the country — Hawaii, California, New York and Vermont — has been effectively stopped due to local opposition.
27 Mar 2020

Energy, enviro interests regroup for next coronavirus bill

Environmentalists and clean energy industry groups were largely left out of the massive coronavirus stimulus bill that passed the Senate yesterday, but they're holding out hope Congress will heed their calls for help in future relief bills. The contours of how the next phase of COVID-19 aid will play out are unclear, with staff exhausted from days of negotiations and many lawmakers already uneasy about gathering again in Washington to vote on legislation.
26 Mar 2020

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