Articles filed under Taxes & Subsidies
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."
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
“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,
Oklahoma wind developers are fresh off a record-setting year. Only Texas installed more wind capacity in 2016, a fact that thrusts the Sooner State's power markets into a sudden transition and is agitating opponents along the way.
As the O’Brien County Assessment of Wind Energy Conversion Property ordinance requires, MidAmerican Energy Company (MEC) recently reported to the assessor’s office the final net acquisition cost figure for the recently completed and commissioned O’Brien Wind Energy Project located in northern O’Brien County along Highway 18 near Sanborn.
As the US wind industry races to complete projects before the PTC expires, concerns are growing over looming tax reforms and the threat of border tariffs.
Wind power generators received $600 million in federal subsidies last year, helping to drive an increase in electricity prices for consumers. Data collated by Australian Power Project, which advocates a sustainable national energy policy, showed $588.7m was paid to wind farm operators.
Gov. Mary Fallin, R-Okla., recently released her proposed 2018 executive budget, which includes two new anti-wind tax proposals. The first proposal would end the zero-emission tax credit for wind facilities placed in service after 2017. The second proposal would begin taxing the production of wind energy at $0.005/kWh produced.