Articles filed under Taxes & Subsidies

COVID-19 threatens tax credits for billions in sun, wind energy projects

“We’re thankful that Congress rolled out the Phase Three relief program because the nation’s economy needs strong action to respond to the COVID-19 pandemic,” Kiernan said. “It’s unfortunate that we weren’t included in the package, and we’re beginning the process of reiterating our ask to be included in the Phase Four bill that will likely be drafted.”
6 Apr 2020

What the renewables industry wants from the next stimulus bill

Instead, they’re focusing on two key concepts. The first is extending "safe-harbor" deadlines for receiving the credits that may be thrown off track by the pandemic’s economic disruptions. The safe-harbor fix could potentially be made by the Treasury Department, without a need for congressional action. The second is allowing renewable projects to receive some of their tax credit value back as refundable credits or via "direct pay" provisions.
2 Apr 2020

Why Dems are so bent on passing wind amid corona crisis

That Congressional Democrats would push so hard for solar and wind subsidies at such a critical time for the US economy is particularly galling for two reasons. First, the wind industry already stands to collect some $33.75 billion in subsidies between now and 2029. Second, wind-energy development in some of the most-heavily Democratic states in the country — Hawaii, California, New York and Vermont — has been effectively stopped due to local opposition.
27 Mar 2020

Energy, enviro interests regroup for next coronavirus bill

Environmentalists and clean energy industry groups were largely left out of the massive coronavirus stimulus bill that passed the Senate yesterday, but they're holding out hope Congress will heed their calls for help in future relief bills. The contours of how the next phase of COVID-19 aid will play out are unclear, with staff exhausted from days of negotiations and many lawmakers already uneasy about gathering again in Washington to vote on legislation.
26 Mar 2020

Coronavirus spurs 'domino effect' of wind, solar delays

Girolami said the slowdown will ripple through to power purchase agreements. Without turbines, builders can't build, and that means utilities partnering on PPAs with developers like the ones Girolami represents could miss their project schedules. He said that colleagues representing clients in the solar sector are reporting similar problems.
10 Mar 2020

The Government's murky wind subsidies revival is a costly blunder

In the world of renewable energy nothing is what it seems. “Environmentally friendly” turns out to be devastating to the natural world. “Cheap” is expensive. “Local support” is found to be at a distance.  “Sustainable” is, strange to say, short lived and unaffordable. A “contract” is non-binding. “Secure” is actually unreliable. Love is hate, black is white, and “Green” is a murky shade of brown. So we should not be surprised when we are simultaneously told, as we were yesterday by government, that onshore wind is now so cost competitive it should be allowed to apply for subsidies again.
3 Mar 2020

Sweeping Senate energy bill could come to a vote this week

The bill also doesn’t include any extension of investment tax credits for solar power or federal tax credits for electric vehicles that were left out of the $1.37 trillion spending bill passed by Congress in December. Senate Minority Leader Charles E. Schumer, D-New York, plans to seek amendments to the new Senate energy bill to extend these tax credits as well as push for more stringent building codes, The Washington Post reported Monday. Efficiency groups are also decrying the bill’s absence of a provision to allow homeowners to qualify for larger mortgages for more energy-efficient homes. 
2 Mar 2020

Wind turbines generate more cash when switched off and Scots customers shouldering £650m blame

So-called 'constraint payments', a sort of compensation, have been paid to energy firms in charge of wind farms, when demand for electricity falls or winds are too strong for turbines to operate. These costs are added to consumers' electricity bills. ...According to the Renewable Energy Foundation, 2018 was a record year for constraint payments, reaching a staggering £124,649,106 - surpassing the total in 2017 of £108,247,860.
17 Jan 2020

SWEDEN: Climate policy spending the worst waste of 2019!

Allocations to climate policy have more than doubled in recent years, while emissions have basically ceased to decrease. In the government's budget for 2020, 12.6 billion is allocated for climate policy, compared with 5.2 billion in 2014. But despite this, emissions no longer decrease. Last year, emissions increased even marginally.
9 Jan 2020
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