Library filed under Taxes & Subsidies
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.
Under the policy, the county Legislature requires any payment in lieu of taxes (PILOT) agreement for wind energy production projects with a rated capacity of 25 Megawatts or more to be equal to the property tax payments the county would have received in the absence of exemptions.
The Massachusetts Clean Water Trust Board of Trustees voted Wednesday, August 2, to convert what was a conditional $4.86 million grant to the town into a loan. The money, originally stemming from the American Recovery and Reinvestment Act of 2009, came to Falmouth through the trust to pay for construction of the second turbine, known as Wind 2
ANTRIM NH - Antrim select board members renegotiated an agreement made between the town and a wind energy company during a public hearing on Monday evening.
A $4.5 billion wind farm and transmission line announced last week by Public Service Co. of Oklahoma and a sister utility needs a quick answer from Oklahoma regulators so the project can fully qualify for federal tax credits for renewable energy.
Poland’s struggling renewable sector could collapse over “unpredictable” government moves