Library filed under Taxes & Subsidies from USA

Lawmakers take aim at wind energy subsidy

Senate Bill 888 would not abolish zero emission tax credits, but would make them no longer refundable. That means wind companies could still use the income tax credits to offset taxes they might owe. However, once that tax liability goes down to zero, they would no longer be able to turn the remaining tax credits back to the Tax Commission and receive 85 cents on the dollar from the state treasury.
29 Apr 2018

House votes to pull wind energy tax incentive

SB 888 eliminates the refundability of tax credits for renewable energy generation. The state stopped issuing new credits several years ago, and the state is already scheduled to phase out the program altogether by 2027. Zeroing out the refundability feature could save the state as much as $750 million from 2020, when SB 888 takes effect, until 2027, Coody said.
26 Apr 2018

Political rivals strike deal on wind power tax

What is known so far is that the deal would place a $1 per megawatt hour tax on the production of wind energy, but only for new projects. The proposal also will include what's been dubbed "section nine," a guarantee that the gross production tax will expire if a future Legislature tries to eliminate or cap the industry's incentives.
20 Apr 2018

Wind blows a hold in Oklahoma Budget

If the state has been reimbursing county school districts for wind’s ad valorem taxes, then this has not expanded the total funds to school districts at all; it has just forced the state to transfer dollars from the General Revenue Fund that otherwise would have been earmarked for school districts across the state to those rural districts near wind facilities. Robbing Peter to pay Paul does nothing to help education.
26 Mar 2018

Anti-Wind Bills Prompt Predictions of Lawsuits, Bankruptcies and More Broken Promises

Yates said the legislators don’t understand that the tax credits were built into the business models when the wind industry companies won state approval to build wind farms in Oklahoma. “These projects are not profitable for the first 12 years of existence,” he explained. The Wind Coalition leader said for the state to go back and change the rules “of the game so dramatically after these projects are already up and spinning, the investment is there and now to go back in and change is devastating.”
4 Mar 2018

Wind over the prairies

The [wind] industry faces the loss of federal development initiatives after 2020, a timetable that spurred the industry to initiate these mega-projects in the first place and place big bets on these enormous farms instead of smaller, quicker projects. ...This transitory surge poses a dilemma to equipment providers and specialized logistics handlers alike: How do they gear up for an expected building spree knowing that it will most likely be short-lived?
29 Jan 2018

DPU oks new fees on solar, wind installations

“The department concedes that customers taking net metering services directly receive the benefits of the net metering system,” the DPU said in its ruling. “The costs of net metering, however, are borne by all electric customers, whether or not they receive net metering credits. Consequently, there is a transfer of costs rooted in the net metering system.”
9 Jan 2018

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