Library filed under Taxes & Subsidies
Oil and gas entrepreneur Algy Cluff has said the Government could provide a multi-billion pound boost to the hard-pressed North Sea industry by cutting the subsidies provided for offshore wind farms.
The delay follows the decision by Theresa May to abolish the energy department and fold it into a new Business Energy and Industrial Strategy department after she became prime minister following the Brexit vote.
The market price of the subsidy households end up paying to wind farms has surged by up to 270 per cent in just two years. A grab-bag of green schemes is expected to add between $90 and $190 to power bills in 2016-17 depending on where consumers live.
“The benefits of wind are disproportionately on the West Coast, and the costs of wind are disproportionately in Wyoming — and I mean the social costs,” said Cale Case, a state senator and economist who serves on the Legislature’s revenue committee. “This tiny reflection of the impacts back here, I think it’s just kind of a fair trade.”
In 2014, Congress voted to spend another $6 billion to extend the wasteful wind subsidy for one year. That amount is more than the U.S. spends in an entire year on the Office of Science at the Department of Energy. Let’s not make that mistake again. Basic energy research is one of the most important things the country can do to help unleash our free enterprise system to provide the clean, cheap, reliable energy we need to power our 21st-century economy.
While nuclear power is left to sink or swim in New England's competitive power market, New York last week approved a clean energy standard that calls for 50 percent renewables by 2030 and financial subsidies to keep three Upstate nuclear power plants in business.
Windwaste, an advocacy group pushing for a more equitable taxation on the wind industry, says under the current tax law, recent wind farm generation growth announcements and projects in the works could cost the state more than $2.4 billion over 10 years.
The IEA implicitly confirms that by removing government support, many renewable energy companies would collapse like a house of cards because they aren’t competitive without it. Further, the report concludes that without government subsidies for renewable companies, investors would not be comfortable investing private capital.
Senator Lamar Alexander on Monday urged the administration to reconsider a proposal to provide new incentives to wind power producers who are already benefiting from the 24-year-old wind production tax credit. Senator Alexander also pointed out that the proposal fails to provide any incentive for nuclear energy – this country’s largest source of clean electricity.
Chris Back called for a moratorium on new wind farms, and no more subsidies for wind energy generators until the Productivity Commission conducted a cost-benefit analysis of the effect the industry was having on the National Electricity Market and retail electricity costs.
The agreement calls for the towns to share payments of $4,000 per megawatt per year — approximately $310,000 — with Franklin County and the Chateaugay Central School District.
The county Legislature passed a resolution saying any alternative energy sources larger than 25 megawatts won't receive any tax breaks from the county. Chairman Scott Gray says the benefits to the community just aren't there.
Siemens has warned its plans to eventually export wind turbine blades from the UK will have to be put on hold because of last week’s Brexit vote.
Introduction: Thirty states including the District of Columbia have adopted Renewable Portfolio Standards (RPS) specifying shares of electricity consumption provided by renewable energy. RPS proponents argue that these policies are needed to reduce greenhouse gas emissions. They also argue that the construction of renewable energy facilities increase employment opportunities. Opponents assert that Renewable Portfolio Standards increase electricity generation costs and rates paid by customers, which reduces regional economic activity. The objective of this study is to provide a balanced look at the issue, weighing the costs and benefits of Renewable Energy Portfolio Standards. A portion of the study's executive summary is provided below. The full report can be accessed by clicking the link(s) on this page.
He says Apex Clean Energy wants a 75 percent tax break for its proposed project on Galloo Island in Hounsfield. Now, county lawmakers are on the verge of a policy that says no tax deals at all for Apex or any other big wind or solar developer.
The prospects for a proposed solar project could be in doubt after the East Lansing City Council voted 3-2 Tuesday to grant a 10-year tax exemption rather than the 25 years exemption sought by the company.
Two possible wind farm developments in Clay County could threaten flight training missions and radar operations at nearby Sheppard Air Force Base, according to base officials and wind energy opponents. The worst case scenario, officials have said, is that Sheppard's missions are moved elsewhere and Wichita Falls loses an estimated $750 million in annual economic impact.
"If you don't seen any improvement in technology costs and you see the incentives pull away ... there will be fewer places where the electricity price will get you there," he said. "You'd have to look at the exogenous impacts on the environment, and then it's a question of whether or not you include those."
In the decision, commissioners said Everpower didn’t meet all the requirements of the application and failed to show why the project would have a positive impact on the local economy. ...Commissioner’s also cited a public meeting where about 40 residents spoke out against the project and only the developer spoke in favor.
Can an investor in Swedish wind power -- for example, a European pension fund -- considering the Swedish parliamentary elections in 2018, feel safe for continued reimbursement policy? Jan Hedman and Henrik Wachtmeister of the Confederation of Swedish Landscape Protection, comment about the recent energy deal supported by all political parties except the Sweden Democrats, SD.