Library filed under Taxes & Subsidies from USA

Senator Lankford and others target elimination of wind tax credit

“This production tax credit was established years ago to help the fledgling renewable energy industry. Now, when you drive through my state and many others with countless wind turbines, you can see that the wind industry is no longer a start-up, new energy source,” said Lankford. “The wind industry is thriving and does not need federal taxpayers’ money to thrive.” ...“The wind production tax credit is fundamentally unfair and has long outlived its expiration date.”
23 Sep 2020

Wyoming lawmakers surprise public with proposal to repeal three-year electricity tax exemptions for wind energy

Despite the topic not being on the agenda, Wyoming lawmakers narrowly voted to propose a bill increasing the tax burden on wind energy producers in the state late Friday afternoon. After impassioned public comment on the topic, the Legislature’s Joint Committee on Corporations, Elections and Political Subdivisions decided to draft a bill to eliminate a three-year electricity tax moratorium available to new wind energy projects. In a 6-5 vote, lawmakers voted to draft the legislation for review in November.
16 Sep 2020

Forum: Wind energy companies gaming the system at taxpayers' expense

Considering the many tax benefits which the wind industry is granted, it is somewhat surprising how few local jobs are created in either their construction or their operations. ...After taking advantage of these generous federal, state, and local tax abatements, these companies typically file valuation lawsuits against local county appraisal districts in an attempt to drastically lower their property taxes. This is almost always done immediately after their tax abatements expire.
11 Sep 2020

Renewable energy is not all green

“There is more to be told that the state energy policy makers would rather not be known. The article makes renewable energy look far better than it is. How, can hydropower, the only reliable and true renewable resource, be included in the percentage calculations of renewable generation? Wind is less than 2% at best, solar is about the same. So 17-18% of generated renewable power was hydro and only 1-2% from solar or wind. Also, solar and wind power cost five to six times more than hydro or nuclear or hydrocarbon power.
7 Aug 2020

A $1 Billion Solar Plant Was Obsolete Before It Ever Went Online

In 2011 the $1 billion project was to be the biggest solar plant of its kind, and it looked like the future of renewable power. Citigroup Inc. and other financiers invested $140 million with its developer, SolarReserve Inc. Steven Chu, the U.S. Department of Energy secretary at the time, offered the company government loan guarantees, and Harry Reid, then the Senate majority leader and senior senator from Nevada, cleared the way for the company to build on public land. ...SolarReserve may have done its part, but today the company 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.
31 Jul 2020

A $1 Billion Solar Plant Was Obsolete Before It Ever Went Online

In 2011 the $1 billion project was to be the biggest solar plant of its kind, and it looked like the future of renewable power. Citigroup Inc. and other financiers invested $140 million with its developer, SolarReserve Inc. Steven Chu, the U.S. Department of Energy secretary at the time, offered the company government loan guarantees, and Harry Reid, then the Senate majority leader and senior senator from Nevada, cleared the way for the company to build on public land. ...SolarReserve may have done its part, but today the company 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.
31 Jul 2020

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

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