Articles filed under Taxes & Subsidies
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.
County Planning Director Sid Fox said a zoning permit is usually required to start construction on a wind farm, but said due to the fact the two were simply requesting to dig holes to beat the colder weather and to meet the requirement for the production tax credit, they did not need the permit.
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.”
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.
The Court of Appeal recently upheld the government’s right to cancel the Climate Change Levy (CCL) exemption for renewable generators. In effect this is a retrospective removal of subsidy entitlement, and should remind investors that even a seemingly secure economic rent will collapse when push comes to shove.
An Oklahoma tax credit that provides millions of dollars to the wind industry yearly is overly generous and should be curtailed sooner than planned, according to a consultant's report considered by a state committee Friday.
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.
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.
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.
Wind farm companies have learned a few things from big-box retailers about pushing back against property taxes.
In a letter to Senate Majority Leader Mitch McConnell (R-Ky.) and House Speaker Paul Ryan (R-Wis.), more than 45 groups reiterated their opposition to extending key renewable energy breaks in the closing weeks of the 114th Congress.
Before we become too hopeful about the prospects of using offshore wind power as a fuel source of the future, let’s not forget that government data shows that offshore wind power cannot survive in a competitive environment without huge taxpayer subsidies.
A wind-energy company is so desperate for federal subsidies, it will give part of them to citizens. ...Earlier this month, Spanish energy company Iberdrola announced that it plans to distribute about $565,000 per year among 815 registered voters in the two towns. The payments would continue for 25 years.
Lawmakers spurned a bill to increase taxes on wind energy Thursday, after hearing five hours of testimony from the industry’s developers, utilities, local government officials and ranchers opposed to the proposal.
Wind turbine makers “are pushing it pretty hard but we’re struggling to see the benefits” of retrofits so far, said Jim Torgerson, Chief Executive of Avangrid Inc. "You’ve got to look at it wind farm by wind farm and look at the age of your assets to see if it makes sense.”
Franklin County commissioners unanimously approved amending the county’s tax increment financing agreement with TransCanada Maine Wind Development to capture more tax money that can be used for economic development within the Unorganized Territory.
We have both taught problem-solving approaches to science and engineering students emphasizing that identifying the real problem may be the more difficult task since getting the right answer to the wrong problem is at best misleading and can be counterproductive. Simplistic solutions to complex problems rarely lead to the desired result, but complex problems can often be broken into smaller entities that lead to appropriate solutions provided that each segment recognizes and takes into consideration the other parts of the problem.
Congressional lawmakers have launched a formal investigation into whether solar-energy companies improperly received billions of dollars in tax incentives from the Obama administration.
A group opposed to wind power incentives said Oklahoma's budget could be on the hook for as much as $5.2 billion in future claims through 2030 if the state's zero-emissions tax credit is allowed to continue, an amount the wind industry said is highly inflated.
Oil and gas entrepreneur Algy Cluff has said the Government could provide a multi-billion pound boost to the hard-pressed North Sea industry by cutting the subsidies provided for offshore wind farms.