Articles filed under Taxes & Subsidies

Commissioners pause tax break vote on $500M wind farm

Rosebud County commissioners have hit the pause button on deciding whether a $500 million wind farm warrants a 50% tax abatement. Commissioners tabled a proposal Tuesday to lower taxes on the Clearwater Wind farm to be located near Forsyth. In the works since 2012, 120-turbine farm will generate enough power to electrify 300,000 homes.
15 Aug 2019

Vineyard Wind Races Against the Clock

Beyond the immediate concerns with permitting, Vineyard Wind faces a tangle of logistical challenges and potential investor turmoil if the project continues to see delays. Anthony Logan, an industry expert with the renewables research firm Wood Mackenzie Power, has spent the past six years forecasting the wind energy field. He said that while Vineyard Wind, barring major disaster, remains poised to become the first industrial-scale offshore wind-farm in the U.S., the financial success of the project is dependent on qualifying for a federal tax incentive for wind energy projects, known as the investment tax credit (ITC).
9 Aug 2019

Changes to Wyoming's wind tax could make state more desirable

Committee co-chairman Sen. Cale Case, R-Lander, has been a major proponent of an increase in the wind tax. While he was interested in the potential of changes to the state’s wind tax structure, he didn’t think Wyoming needed to worry about its competitiveness with its western neighbors. Considering Wyoming’s placement geographically, Case said developers looking to feed Washington and Oregon with renewable energy wouldn’t be able to stay out of the state, despite a higher cost of development.
9 Jul 2019

House tax bill extends credits for biodiesel, blender pumps and wind

The House Ways and Means Committee approved a broad tax bill Thursday night that includes an extension of the biodiesel tax credit and incentives for biofuel infrastructure and wind power, but the legislation will face objections in the Republican-controlled Senate. ...The bill would revive extend the $1-a-gallon biodiesel tax credit, blender pump infrastructure credit, and a wind production credit along with several other credits through 2020. 
21 Jun 2019

Wind farm PILOT faces mixed review

On Wednesday, the Steuben County Industrial Development Agency (IDA) held a public hearing to gather comments on a plan to deliver $11.6 million in tax breaks to the Baron Winds Project — a $304 million project of parent company Innogy destined to locate 69 turbines in the towns of Fremont, Cohocton, Dansville, Wayland and Avoca.
21 Jun 2019

Proposed wind farm clears another hurdle

Although the three commission members all voted to approve the agreement, they each acknowledged the risks associated with the wind farm and the uncertainties surrounding the benefits to electric customers. If the price of certificates representing the environmental benefits of renewable energy fails to increase as projected, then the contract could cost consumers in the long run, said commissioner Abigail Anthony. Additionally, much of the savings are expected to come on windy winter days when the wind farm is expected to displace more expensive oil generators or natural gas-burning plants that may charge a premium. If those savings are lower, the net benefits may be too, Anthony said.
29 May 2019

Democrats try to extend wind, solar aid they Aagreed to let die

An extension of the credits would need the backing of Senate Republicans to pass and would represent a bonanza for the solar and wind industries. Rooftop solar installer Solar City Corp. surged 34% after the 2015 deal was announced. BloombergNEF predicted the credits’ extension would lead to $73 billion in new investment and a 56% increase in new wind and solar capacity.
15 May 2019

Berkshire takes tax hit as victim of ‘Ponzi-type’ solar scheme

“In December 2018 and during the first quarter of 2019, we learned of allegations by federal authorities of fraudulent income conduct by the sponsor of these funds,” Berkshire said Saturday in the filing, without naming the sponsor. “As a result of our investigation into these allegations, we now believe that it is more likely than not that the income tax benefits that we recognized are not valid.”
9 May 2019

Huron County turns back on wind farm

“There is no guarantee on how long the wind turbines will last, that being said we chose to have regular taxes paid rather than lower equal payments over the 30 years,” Wilde said. “The difference in the first year would be approximately $1 million and then decrease each year after. But there are variables as to how much they might decrease.”
22 Mar 2019

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