Library filed under Taxes & Subsidies
But MidAmerican told the board the project would be economically feasible only if it's allowed to retain 100 percent of the PTCs. The IRS allows wind farm owners to requalify for the PTC for an additional 10 years under the 80/20 rule that requires no more than one-fifth of the fair market value of the re-powered turbine to be used equipment.
The long-term need for greener electricity and our timeless winds are why our great-grandchildren may never experience many of our beautiful Wyoming vistas as the indigenous peoples and pioneers did and the way we do now. More likely, they will see an industrialized landscape — one scarred by thousands of bird-smashing turbines, high-tension lines and innumerable utility roads. Where we see the joyous freedom of open space, they will have to peer through a fragmented, tattooed landscape.
Besides taking exception to the procedural tack chosen by MidAmerican, the tech companies said the commission should decide the prudence of the proposed investment instead of doing it when the utility fields its next rate case, which will be at least a decade. ..."The board must thoroughly consider the proposal in a deliberative process to ensure that it arrives at the right decision."
Nueces County Judge Loyd Neal and Wes Hoskins, chairman of the South Texas Military Facility Task Force, recalled being told if Senate Bill 277, or something substantially similar didn't pass, the bases would likely be candidates for closure in the next few years. Hoskins said federal officials told them, "encroachment is the No. 1 issue in the nation (facing military installations), and Texas is in trouble."
A room full of protestors attended the Hamilton Independent School District board of directors meeting Monday to speak out against a wind farm application.
The area along the coast of New England is considered the Saudi Arabia of offshore wind. However, the federal tax subsidy designed to jump-start production of ocean wind energy will soon be drying up.
Events in Oklahoma have raised concerns over states’ readiness to continue subsidy support in an era of budget cutbacks and fiscal constraints, while potential trouble is also brewing in California, Iowa and Texas, suggesting that the industry’s ability to lobby effectively on crucial issues will soon be put to the test.
A simple way to make up some of that shortfall is for wind developers to pay sales tax on their purchases, just like nearly everyone else in Oklahoma. Each new wind turbine, which is manufactured somewhere else and shipped into Oklahoma, could net the state about $90,000 in sales tax revenue.
Municipalities, such as Ames, Iowa, are the primary beneficiaries of a lapsed state tax credit for renewable energy
Oklahoma's Former Governor, Frank Keating, explains in this 60-second advertisement how he made a mistake in passing a law that helped fund the wind industry in his state and handed the bill to the state's taxpayers.
“NextEra may produce wind energy, but its real business is subsidy mining,” said Robert Bryce, a senior fellow at the Manhattan Institute and an expert on the energy sector. “Renewables need subsidies because they aren’t economic in the free market. By subsidizing renewables, the wholesale power markets across the country are getting more and more distorted."
House Bill 2298, by Speaker Charles McCall, R-Atoka, and Senate Pro Tem Mike Schulz, R-Altus, sets the expiration date at July 1 rather than allowing it to continue until 2021.
While wind energy is clean and renewable, it creates relatively few permanent jobs and most of the power (and the profits) go out of the state. ...The petroleum industry pays taxes on the energy it produces and creates an enormous number of jobs and wealth inside the state.
The Oklahoma Senate has overwhelmingly voted yes on a bill that would move up the sunset date of the state’s wind power tax credits to July 1.
On March 23 the USA division of the wind energy company, NaturEner, announced it had donated $50,000 to the Sunburst School District to help the small Montana town avoid having to lay off one or more of its 21 school teachers.
Sen. Randy Smith, R-Tucker, spoke in favor of the bill. He said when the Legislature created the tax break in 2001, it should have added a sunset clause. He added that other industries don’t receive as generous a break.
But Reed, a New York Republican who supports the tax credits, says their [tax credits] preservation should not be taken for granted as Congress attempts to reform the byzantine US tax code for the first time in a generation. Tax reform is expected to be the next major legislative battle following healthcare reform. “There are no guarantees in Washington,”
House Bill 2298, by Speaker Charles McCall, R-Atoka, would end the zero-emissions tax credit July 1, more than three years earlier than its current sunset date. The bill passed, 74-24, over the objections from some lawmakers that it could jeopardize wind projects already in an advanced stage of development.
After the committee recommended legislators indefinitely suspend Ohio’s portfolio standards, the Legislature sent to Kasich’s desk a measure that would have delayed implementation until 2019. Kasich vetoed the bill two days after Christmas.
Swanton Wind sought to have GMP buy power from the planned wind farm under prices established through PURPA; however, the pricing regime Swanton Wind applied under expired in September, 2016. Green Mountain Power fought that effort, saying that Swanton Wind filed its application too late. The Public Service Board agreed,