Articles filed under Taxes & Subsidies from Massachusetts

Tax credits complicate Cape Wind, South Terminal schedule

Barton said that in order for Cape Wind to be eligible for the federal tax credit, it must "commence construction" before the end of the year, but the federal government has not yet clarified what exactly commencing construction means. ...Cape Wind may have to place the monopilings, or foundations, of at least some of the project's 130-turbines before the Jan. 1 deadline.
16 Feb 2013

Cape Wind loses out on US loan guarantee

The department said that with the multibillion dollar loan program's September expiration date approaching, remaining funds would be used on projects whose applications were further along. "This is not a statement about the quality of your project, but simply about its readiness to proceed at this time."
14 May 2011

Cape Wind awaits power rate decision

If the company fails to win the tax credits, the power purchase agreement allows the company to raise the rate in the first year above the 18.7 cent rate, he said. Depending on what happens, that first year rate could go as high as 21.2 cents per kilowatt-hour. The contract also allows for the cost of the power to rise by 3.5 percent per year.
19 Nov 2010

Cape Wind rates will whack businesses, hospitals, schools; Blown away by costs

And experts say most of those costs will be passed on to the same consumers who, as rate- and taxpayers, will be paying for the cost of planting the turbines off Nantucket Sound - and footing higher energy bills once the project is running. "As they say, there are lies, damned lies and statistics," said energy analyst Robert McCullough. "This is a very expensive project."
4 Oct 2010

Cape Wind opponents, supporters will weigh in on power deal

Robert Rio, senior vice president at Associated Industries of Massachusetts Inc., said he expects the organization to "add a perspective that is very important to determining the outcome of the proceeding...This is now more transparent, as transparent as it could be." Rio said the group is looking to fully understand the costs of Cape Wind power "and see if this is the best way to use ratepayer money."
9 Jul 2010

Tax credits key factor in Cape Wind energy cost

National Grid and Cape Wind submitted testimony Friday to the state Department of Public Utilities to support a deal they have cut for half the power generated by the Nantucket Sound wind farm. But at least one vocal opponent of the project is claiming the state agency should restart the clock in its review of the agreement because of an error in the public notice of the case.
5 Jun 2010

Sen. Lamar Alexander calls Mass. offshore wind farm 'a taxpayer rip-off'

Clean-energy proponents who want to reduce the country's dependence on fossil fuels celebrated last month when the federal government approved the nation's first offshore wind farm off Cape Cod, Mass. ..."It's a taxpayer rip-off," the Maryville Republican said. "It creates a puny amount of very expensive electricity. Taxpayers in Tennessee will be paying extra for it because of the taxpayer subsidies. And it will destroy a very beautiful Nantucket Sound."
24 May 2010
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