Library filed under Taxes & Subsidies
Are renewable energy credits (RECs) and carbon offsets exchanged in totally different markets, with little crossover potential for project developers and investors?
WASHINGTON — Trying to calm anxieties about soaring energy costs, President Bush is using his State of the Union address this week to focus on a package of energy of proposals aimed at bringing fuel-saving technologies out of the lab and into use.
SPRINGFIELD - Supporters of energy-producing wind farms say a plan to change how the state taxes the giant turbines could put the fledgling industry out of business.
The natural foods grocery chain, Whole Foods, failed to do its homework when it agreed to buy “wind energy” and, thereby, launch the nation’s largest demonstration to date of “ green energy” pseudo-environmentalism! Three of the interesting conclusions from the analysis: • “109 huge (32+ story, 350+ foot), low electricity producing wind turbines will be needed to produce the 458,000,000 kWh of “wind generated” electricity that Whole Foods has (in theory) purchased.” • “$1 million spent for energy efficient light bulbs would avoid the use of 171,550,000 kWh of electricity over 5 years -- which is more than 3 times the 56,064,000 kWh of electricity that a $1,000,000 wind turbine might be able to produce over 20 years!” • “Like the leaders in other organizations that have undertaken similar pseudo-environmental actions, it appears that Whole Foods executives thought only about the favorable PR benefits they would enjoy, while failing to consider the adverse impacts of their action.” Editor's Note: According to the World Resources Institute and the U.S. Environmental Protection Agency the top 10 purchasers of 'wind energy' are: Whole Foods Market Inc. 458,000 megawatts (a year) Johnson & Johnson 295,000 MW DuPont & Co. 170,000 MW Starbucks Corp. 150,000 MW IBM Corp. 110,000 MW Safeway Inc. 78,000 MW HSBC 66,000 MW NatureWorks LLC 59,000 MW Advanced Micro Devices Inc. 52,500 MW WhiteWave Foods 49,500 MW
Time is of the essence when it comes to the proposed windmill projects in Herkimer County. At least that is what the legislators were told Wednesday night.
It all sounds nice and crunchy on the surface, but Whole Foods might soon find itself picketed the same way Wal-Mart is, but instead of unions it'll be environmentalists.
WEST Devon and Torridge MP Geoffrey Cox has launched a probe into the amount of public money spent by the Government to subsidise companies who develop wind farms. Mr Cox's Parliamentary Questions will form part of the latest stage in his campaign in support of the thousands of local residents who object to the siting of two wind farms in his constituency.
Environmentalists have been promising for more than three decades that wind energy would be competitive if there was a "level playing field," but it survives only because the field has been tilted in its favor.
One thing it doesn’t mean is that Whole Foods will now get its power from wind. Though press accounts have praised Whole Foods for “going green” with this move, it actually changes next to nothing.
The bill is designed to give tax refunds and grants for using clean, efficient energy. One of its provisions would award grants of 0.85 cents for each kilowatt of electricity produced by a corporation from certain renewables, including wind utilities.
The advantage of investing in a wind turbine [in India] is that 80 per cent of the project cost is considered accelerated depreciation given as a tax benefit for renewable energy during the first year. Editor's Note: Experts estimate that in the USA as much as two-thirds of a wind developer's return on investment is generated by the Production Tax Credit and depreciation allowances. Without these subsidies wind development would be a modest fraction of current levels.
AUSTRALIA's "green" energy sector is planning to protect profits by lobbying for more industry-friendly government policy, banking environmental credits or improving power plant efficiencies.
Two Somerset County green energy projects got a push Wednesday with a chunk of the state’s $8.6 million funding for clean energy.
That will make Whole Foods the only Fortune 500 company to purchase renewable energy credits — which subsidize the production of energy from renewable sources such as wind — to offset 100% of its electricity use, says the U.S. Environmental Protection Agency says.
It wasn't quite the mighty wind Naperville was hoping for, but the option to purchase renewable energy through residential utility bills did cause a bit of a breeze in its first year.
This means, said Anderson, that they are seeking to impose a requirement that all companies purchase a certain amount of their energy from this renewable source. “The problem is that no one wants to buy the energy they are producing because of the high cost involved,” said Anderson. “However, they are pushing hard and I don't know at this time whether they will be successful or not.”
The minimum price guarantee will apply until the province meets its target of 15 per cent of electricity generated from renewable sources.
Commissioner Duane Patrick brought up the “elephant in the room” in regard to wind farms in Kansas and the payment in lieu of taxes issue.
The legislature needs to be involved in the RPS process. It is a crime to raise hundreds of millions of dollars and then fritter it away on projects that in the end will not reduce emissions.