Articles filed under Taxes & Subsidies

Leading Scottish wind firm under fire over alleged tax avoidance

One of Scotland’s leading wind power companies has come under attack for allegedly avoiding millions of pounds of tax by being owned in the Cayman Islands. Ventient Energy, which operates 13 wind farms in Scotland and is headquartered in Edinburgh, is a subsidiary of a company registered in Luxembourg. That company is in turn owned by a firm in the Caymans, a new report has revealed. ...Ventient is also closely tied to the biggest US bank, JP Morgan Chase. It is seen by some as the bank’s “European renewable energy platform”.
23 Nov 2020

Broome County IDA rejects tax deal for Sanford, Windsor wind farm

The action throws the project into limbo as the local tax reductions were considered critical for construction to move forward. However, the vote also represents a significant victory for many residents in the towns of Sanford and Windsor who had long fought the installation on aesthetic and environmental grounds. Despite the setback, Bluestone sponsors vowed to press on.
21 Oct 2020

County opts out of green-energy tax exemption

Tuesday night at the Niagara County Courthouse, opponents of the proposed Bear Ridge Solar project in Cambria/Pendleton showed their support of a county law denying property tax exemptions to local solar and wind energy generation projects. For Niagara County Legislator David Godfrey, Tuesday night's legislative battle over opting out of a state-authorized property tax exemption for solar and wind energy systems had nothing to do with going green.
20 Oct 2020

Rep. Dan Crenshaw calls wind and solar energy ‘silly solutions’ to climate change

On Thursday, however, Crenshaw was particularly critical of solar and wind power advocacy. He said Germany spent over $500 billion trying to convert to solar and wind, but it led to more emissions and more reliance on them bringing in natural gas from Russia. “So these things don’t work,” Crenshaw said. “These are silly solutions. They’re no solutions at all.”
1 Oct 2020

Senator Lankford and others target elimination of wind tax credit

“This production tax credit was established years ago to help the fledgling renewable energy industry. Now, when you drive through my state and many others with countless wind turbines, you can see that the wind industry is no longer a start-up, new energy source,” said Lankford. “The wind industry is thriving and does not need federal taxpayers’ money to thrive.” ...“The wind production tax credit is fundamentally unfair and has long outlived its expiration date.”
23 Sep 2020

Wyoming lawmakers surprise public with proposal to repeal three-year electricity tax exemptions for wind energy

Despite the topic not being on the agenda, Wyoming lawmakers narrowly voted to propose a bill increasing the tax burden on wind energy producers in the state late Friday afternoon. After impassioned public comment on the topic, the Legislature’s Joint Committee on Corporations, Elections and Political Subdivisions decided to draft a bill to eliminate a three-year electricity tax moratorium available to new wind energy projects. In a 6-5 vote, lawmakers voted to draft the legislation for review in November.
16 Sep 2020

Forum: Wind energy companies gaming the system at taxpayers' expense

Considering the many tax benefits which the wind industry is granted, it is somewhat surprising how few local jobs are created in either their construction or their operations. ...After taking advantage of these generous federal, state, and local tax abatements, these companies typically file valuation lawsuits against local county appraisal districts in an attempt to drastically lower their property taxes. This is almost always done immediately after their tax abatements expire.
11 Sep 2020

“We are heading for a disaster” - Lower Saxony warns of the end of wind power subsidies

Berlin Olaf Lies expects the worst. Lower Saxony's energy and environment minister, together with the consulting firm Windguard, had the experts at his company determine the extent to which wind farms could go offline in the coming years because the subsidies for the systems according to the Renewable Energy Sources Act (EEG) will end. From the point of view of the SPD politician, the results are alarming: "We are heading for a catastrophe," Lies told the Handelsblatt.
22 Aug 2020

Renewable energy is not all green

“There is more to be told that the state energy policy makers would rather not be known. The article makes renewable energy look far better than it is. How, can hydropower, the only reliable and true renewable resource, be included in the percentage calculations of renewable generation? Wind is less than 2% at best, solar is about the same. So 17-18% of generated renewable power was hydro and only 1-2% from solar or wind. Also, solar and wind power cost five to six times more than hydro or nuclear or hydrocarbon power.
7 Aug 2020

A $1 Billion Solar Plant Was Obsolete Before It Ever Went Online

In 2011 the $1 billion project was to be the biggest solar plant of its kind, and it looked like the future of renewable power. Citigroup Inc. and other financiers invested $140 million with its developer, SolarReserve Inc. Steven Chu, the U.S. Department of Energy secretary at the time, offered the company government loan guarantees, and Harry Reid, then the Senate majority leader and senior senator from Nevada, cleared the way for the company to build on public land. ...SolarReserve may have done its part, but today the company doesn’t rank among the winners. Instead, it’s mired in litigation and accusations of mismanagement at Crescent Dunes, where taxpayers remain on the hook for $737 million in loan guarantees.
31 Jul 2020

China’s $42 Billion Clean Energy Debt Is Only Getting Worse

While China is moving away from subsidies for new projects, the delayed payments are weighing on developers and restricting their ability to borrow more money to fund new generation. The issue is of particular importance because of the huge amounts of money pouring into the sector in China -- $818 billion in the last decade, more than double any other country, according to BloombergNEF.
15 Jul 2020

Senate must reject extending tax credits for wind and solar power

The U.S. House of Representatives voted this week on a 2,300-page bill that includes tax breaks for wind and solar power that have already cost taxpayers a lot of money. The $1.5 trillion Moving Forward Act extended special tax breaks another five years for wind power and six years for solar power. These tax breaks are unnecessary, expensive and harmful to the electricity grid. They’ve also become a bad investment.
2 Jul 2020

http://www.windaction.org/posts?topic=Taxes+%26+Subsidies&type=Article
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