Library filed under Taxes & Subsidies

Tiny Millsfield: 'Collateral Damage' in a fight over wind farm taxes

The DRA concluded the wind farm was valued at $228 million – more than twice the $113 million value locked in by the PILOT agreement. But because Granite Reliable couldn’t be forced to pay any more than what was called for under the PILOT, tiny Millsfield suddenly owed the state around $800,000. That was a scary thing to residents who were suddenly confronted with the possibility of a huge tax increase.
22 May 2014

The Answer Isn't Blowing in the Wind: Warren Buffett can do without a tax break for wind energy.

Everywhere you look, the market is giving signals that wind energy is an economically-specious idea. In order to move ahead with these projects, especially the offshore wind farms that are the latest rage, business is asking for tax breaks, subsidies and federal loan guarantees. They understand that without them the math doesn’t work – so why don’t the politicians in Washington?
20 May 2014

Electricity supplier won’t buy Vermont renewable energy credits

One of the nation’s top renewable energy suppliers said it will no longer trade Vermont’s renewable energy credits that are also counted toward the state’s clean energy target. “It is a fundamental principle of all renewable energy market sales that the environmental characteristics associated with the electric energy generated cannot be counted or claimed twice,” NextEra Energy said.
19 May 2014

Congress needs to come up with a way to pay for ‘tax extenders’ bill

The Senate just fell apart over a full-employment plan for lobbyists also known as the “tax extenders” bill.  ...This may be one of those times when no bill is better than a bad bill. Certainly it won’t be the end of the world if both the House and the Senate have to ponder this turkey a while longer, during which time they may come up with a way to pay for it — or even the gumption to end the absurd annual “tax extender” ritual once and for all.
17 May 2014

Overwhelming vote advances extenders bill, but hurdles remain

The broad Senate package is encountering stiffer resistance in the House than in years past; last week, the lower chamber moved through a much smaller package to make permanent just a handful of overwhelmingly popular incentives, such as the research and development tax credit. Regardless of what happens in the Senate in the coming days, final action to extend the credits is not expected until after the November elections.
15 May 2014

Subsidizing wind

Renewing federal tax credits for wind energy would blatantly waste taxpayer dollars on a manifestly unsustainable industry that's wholly dependent on government subsidies.
14 May 2014

Tax Extenders: Extend the wind PTC expiration permanently

Wind-generated electricity has been on and off the public dole since the inception of the PTC in 1992. When it was set to expire again in 2012, Congress passed a one-year extension as part of the fiscal cliff deal. The wind industry got not only the extension but also an expansion of eligibility. This reduces the industry’s taxes $12 billion over the next 10 years.
14 May 2014

House votes to make research tax credit permanent

If all the 50-plus temporary tax breaks were made permanent, it would "add $500 billion or more" to the deficit. ...The Senate is moving to extend nearly all the temporary tax breaks through 2015, putting off the debate over which ones to make permanent. The Senate could vote its package as early as next week, setting up a showdown with the House that might not get settled until after congressional elections in November.
10 May 2014

The Real Buffett Rule: Obama's favorite tax adviser refines his soak-the-rich policy

"I will do anything that is basically covered by the law to reduce Berkshire's tax rate," he said. "For example, on wind energy, we get a tax credit if we build a lot of wind farms. That's the only reason to build them. They don't make sense without the tax credit." Think about that one. Mr. Buffett says it makes no economic sense to build wind farms without a tax credit.
5 May 2014

Hot air from Sen. Udall on the wind subsidies

Wind energy might be great: we would commend any energy producer who found a way to provide efficient, inexpensive, abundant, reliable, and clean energy, regardless of the source. If it worked as Sen. Udall and his allies claim, we as consumers might even support it with our hard-earned dollars. If the product is inferior to its competition and more expensive (unless buoyed by tax-credits), we wouldn't make that investment-our money is better off elsewhere.
3 May 2014

New York Wind falls short... again

Nys-windgen-2009-2013_thumb By the end of 2013, wind energy represented 94% of the fuel used to meet New York State's RPS mandate. Twenty wind power plants are operating in the state with an installed capacity of 1,730 megawatts. We've been tracking NY's wind production figures since 2009 and its performance has not improved.  
28 Apr 2014

Windfarm owners were paid €10m not to produce energy

Irish wind-farm operators receive payouts from other electricity providers in respect of "constraints" or "curtailments" where a transmission or distribution line is down for maintenance or where there is a local fault, or when there is high wind at a time of low-energy demand (for example, in the middle of the night) and turbines are shut down due to over-capacity.
20 Apr 2014
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