Library filed under Taxes & Subsidies
This report by the Fraser Institute finds that Ontario’s Green Energy Act and its induced inefficiencies, have caused electricity prices to increase dramatically —now the highest in Canada—have cost the province an estimated 74,881 manufacturing jobs since the 2008 recession. High electricity prices are threatening industrial competitiveness, in particular that of the manufacturing sector for which electricity is a major input cost. The executive summary is provided below. The full report can be accessed by selecting the links on this page.
If NYSERDA stops paying Noble incentives, Noble’s income will decrease and could directly affect the Town of Eagle. The funding that Eagle receives annually from Noble as a part of the host agreement is percentage based, so if Noble loses income, so will Eagle and the residents of Eagle with turbines on their properties.
Clean-energy’s fiscal advantage stems in part from two tax credits that Congress extended in 2015. Both measures are scheduled to be phased out in the 2020s, but Environmental Protection Agency administrator Scott Pruitt on Monday called for them to be eliminated. That could upend wind and solar’s edge. “Without tax credits, those economics no longer work,” said Amy Grace, an analyst at Bloomberg New Energy Finance.
Tax incentives for the wind industry should be eliminated, Environmental Protection Agency administrator Scott Pruitt said Monday. “I would do away with these incentives that we give to the wind industry. ...I’d let them stand on their own and compete against coal and natural gas and other sources."
While sinking enormous financial resources into propping up renewable energy prospectors, national governments are providing no perceptible benefits to their citizens, writes Judith Sloan, a renowned Australian economist who has served on the Australian government’s Productivity Commission.
Move over, Ponzi; forget Bernie Madoff; ignore Enron; and dismiss collateralised debt obligations associated with subprime mortgages. Without a doubt, the biggest scam perpetrated against taxpayers and consumers is renewable energy. And if you think this scam is just an Australian phenomenon, think again. With very few exceptions, governments all over the world have fallen into the trap of paying renewable energy scammers on the basis that it is necessary, at least politically, to be seen to be doing something about climate change.
“(Apex Clean Energy) has asked the JCIDA to table our PILOT application for the moment,” Mr. Habig said in an email. “Much has been reported on Fort Drum concerns in recent days. We feel it is appropriate to give the parties an opportunity to digest the facts and reach informed and considered conclusions regarding potential base impact before engaging in PILOT discussions.”
WORLDWIDE: Competitive tenders in renewable energy will drive "almost half" of new capacity between 2017-2022, according to the new medium-term forecast from the International Energy Agency (IEA).
The prospects for a broad tax reform with lower corporate rates has excited business leaders and boosted the stock market -- except for renewable energy. Tax reform “will make renewables more expensive,” Keith Martin, a partner at law firm Norton Rose Fulbright, said in an interview Tuesday at Infocast’s Solar Connect conference in San Diego.
Now, the wind industry hopes for a wind-friendly Congress in 2019 and beyond and a wind-friendly president in 2021 and beyond. Such a president taking office in 2021 would be just in time to address what seems will be an inevitable lull following the last of the 30-70 GW projects that “started construction” in 2016 ...We can only imagine where the wind industry and tax policy will be in 2021, but history suggests the road there will be an interesting one.
Oklahoma paid nearly $143 million in subsidies to wind companies in 2015, between property tax reimbursements and the zero-emission tax credit, according to a study released this week.
Recently introduced legislation would create a 30% investment tax credit for the first 3 GW of offshore wind projects deployed in the U.S.
SolarCity will pay $29.5 million to settle a long-running investigation into allegations it violated federal law by submitting inflated claims to the government through a popular stimulus program set up during the Obama administration, the U.S. Justice Department said Friday.
UPPER THUMB — Local counties, municipalities and school districts will be able to hold on to disputed wind turbine tax revenue following recent action by NextEra Energy Resources.
Early construction is ongoing at the site near Rawlins, and needs to continue without pause if the company is to qualify for the federal subsidy. If it qualifies for the tax credit, it would last for up to 10 years, she said. Firms that began construction by last year keep the subsidy for a decade. The Power Company of Wyoming is not confident that the second phase of development, for an additional 500 turbines, will qualify for the tax credit.
Victorian taxpayers will cough up hundreds of millions of dollars to help pay for the Andrews government’s upcoming solar and wind farm auction. ...The move will punch a $250-350 million hole in the state Budget, and experts warn the full cost could be much higher.
The money was handed over after the select board approved an extension to its PILOT (payment in lieu of taxes) with Antrim Wind Energy. The change extends the timeframe that the company has to go online, pushing the date from Dec. 31, 2018 to that same day in 2019.
Producers blame the decline on a loophole in a new law which seeks to minimize the amount of subsidy for new wind projects. New projects are approved in an auction with the lowest bidder getting the nod – at least theoretically. But lawmakers carved out special rules for the so-called “citizens’ energy companies” – cooperative-like entities that allow local communities to own new facilities.
The Bergey Windpower Co. factory south of Oklahoma City can produce 1,500 small-scale turbines annually. But current output is only a fraction of that capacity.
Hopkinton Town Supervisor Susan Wood says a banner placed on a float in the Hopkinton-Fort-Jackson parade Aug. 5 that claimed “Windmills = 50% Cut in Land Taxes for Hopkinton” was not based on facts.