Library filed under Taxes & Subsidies

Trump’s tax reform plans could threaten wind-power financing

“Any tax reform that reduces corporate tax appetite would erode the potential supply of tax equity, pushing the supply-demand balance even further toward a buyer’s market,” said Daniel Shurey, an analyst at Bloomberg New Energy Finance in New York. “In this situation, only the most experienced and well-capitalized developers would catch the attention of tax equity investors.”
18 Jan 2017

High hydro costs sending Ontarians to food banks, report says

In yet another sign of the crisis caused for many in the province by soaring electricity rates, the Ontario Association of Food Banks says the fallout is putting the squeeze on the basic needs of many. “If people have to choose between keeping the lights on and going hungry, they go without food,” Carolyn Stewart, executive director of the association, said ahead of Monday’s release of the group’s Hunger Report 2016. Soaring hydro costs have become an Achilles heel for the Liberal government, which took a costly plunge into green energy in 2009. 
28 Nov 2016

Senator Mazzei’s report blasts state wind farm credits

Outgoing Senate Finance Chairman Mike Mazzei addressed the Incentive Evaluation Commission recently in support of a report that examined the cost versus benefits of the state’s Zero Emission Facility tax credit.   The PFM consulting group determined the cost significantly exceeds the benefits of the program, and recommends that the credit termination date should be accelerated.
24 Nov 2016

Time to cut our losses on big wind

After billions in public hand-outs spanning nearly four decades, big wind has never been able to stand on its own and there's no reason to believe this will change. ...If yanking the handouts causes the industry to flat line then so be it. The US has elected a businessman at the helm who understands what it means to cut your losses. It’s time we did exactly that!
18 Nov 2016

Companies weigh impact of Donald Trump’s win

Continental Resources Inc. chief Harold Hamm, Mr. Trump’s chief adviser on energy issues, said subsidies for renewable energy like solar and wind, and credits for electric cars, should be eliminated. “None of it should be subsidized, none of it,” Mr. Hamm said Wednesday. “If it makes it in the market, fine.”
17 Nov 2016

Oregon can do better auditing energy tax credit program

This action was a serious breach of the revenue department's ethical responsibility to act in the best interests of all Oregon taxpayers. The department's involvement in the failures of the BETC program needs further investigation. Taxpayer money should not have been allowed to flow out of state coffers into the BETC program with little to no supervision.
13 Nov 2016

Report on questionable tax credits names cross-section of Oregon companies

Or-businesstax-audit_thumb Some of the biggest names in Oregon's renewable energy and forest products industries landed on a list of suspicious state giveaways during an investigative audit of Oregon's Business Energy Tax Credit Program. ...The audit details ongoing and costly failures by staff at the Oregon Department of Energy in applying the most fundamental rules of the program or performing basic due diligence to ensure tax credit applicants qualified for the money and used it as intended.
3 Nov 2016

Council extends wind tax abatement

The reasons for the extension request, Nextera’s attorney Mary Solada told council Tuesday night – in front of a packed council chambers – is due to the project still needing a purchaser for the power which the project would create, in addition to complications in Rush County which prevented Nextera from filing their zoning application until just recently.
3 Nov 2016

Feds ordered to pay Alta Wind more than $206m

Section 1603 created a system whereby certain renewable energy facility owners became entitled to cash grants. But owners of “specified energy property” like the plaintiffs became entitled to grants equal to 30% of “the basis of such property.” “And therein lies the dispute,” the court said in its opinion.
1 Nov 2016
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