Articles filed under Taxes & Subsidies
House Democrats have mostly stopped insisting that emergency relief bills address climate. Renewable energy industries, once poised for a banner year, are now just trying to hold on to what they have rather than push lawmakers for more.
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.
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.
“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.”
TOPEKA, Kan. – Reversing a state appeals court, the Kansas Supreme Court ruled Friday that utilities cannot charge higher rates for customers who partially produce their own energy via solar or wind power.
The Bundesrat’s bill, adopted on 14 February, aimed at suspending penalties for wind turbines that do not meet completion deadlines. According to Germany’s Renewable Energy Sources Act (EEG), wind farm promoters must pay penalties if the project won in a tender is not completed within two years. The fine applies regardless of the reason for the delay,
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.
Wind and solar developers are asking for more time to get projects in service and still collect the full value of renewable energy tax credits that are set to begin phasing down next year. ...Some renewable advocates are asking Congress for direct payments from the Treasury in lieu of the existing tax credits.
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.
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.
Democrats were “bargaining as business as usual,” McConnell said Tuesday, with “counter-offers that demanded things like new emission standards or tax credits for solar panels.”
The U.S. Senate reached an agreement on a $2 trillion coronavirus stimulus bill early Wednesday morning, but the package does not include the tax credit extensions and direct pay provisions sought by the wind and solar industries to help them weather the supply-chain and economic disruptions caused by the global pandemic.
As lawmakers continue to hammer out legislation to address the impact of the coronavirus pandemic, House Democrats are looking to insert renewable energy tax credit provisions into a larger stimulus package aimed at stabilizing the economy.
Household are facing a huge hike in their energy bills after a record surge in subsidy payments to switch off Scottish wind farm turbines partly caused by them producing too much power, an analysis has found. In the two months of this year, £69 million was paid out in constraint payments.
Girolami said the slowdown will ripple through to power purchase agreements. Without turbines, builders can't build, and that means utilities partnering on PPAs with developers like the ones Girolami represents could miss their project schedules. He said that colleagues representing clients in the solar sector are reporting similar problems.
Onshore wind farms will be eligible for subsidies for the first time since 2016 from next year. ...However, the government has stressed new projects in England will only go ahead with the consent of local communities.
In the world of renewable energy nothing is what it seems. “Environmentally friendly” turns out to be devastating to the natural world. “Cheap” is expensive. “Local support” is found to be at a distance. “Sustainable” is, strange to say, short lived and unaffordable. A “contract” is non-binding. “Secure” is actually unreliable. Love is hate, black is white, and “Green” is a murky shade of brown. So we should not be surprised when we are simultaneously told, as we were yesterday by government, that onshore wind is now so cost competitive it should be allowed to apply for subsidies again.
The bill also doesn’t include any extension of investment tax credits for solar power or federal tax credits for electric vehicles that were left out of the $1.37 trillion spending bill passed by Congress in December. Senate Minority Leader Charles E. Schumer, D-New York, plans to seek amendments to the new Senate energy bill to extend these tax credits as well as push for more stringent building codes, The Washington Post reported Monday. Efficiency groups are also decrying the bill’s absence of a provision to allow homeowners to qualify for larger mortgages for more energy-efficient homes.
That would apply only to county taxes, but school and town boards have passed similar bans for specific projects. State law gives automatic property tax abatements to renewable energy developers, unless localities opt out.
Barnett, during that meeting, said that the company was going to pursue this project with or without the county’s abatement and designated reinvestment zone. In response to questions later, Barnett said, “However, this vote is forcing us to reevaluate our future in Bee County.”