Articles filed under Taxes & Subsidies from USA

Wind energy's production tax credit in crosshairs

As wind generation in many jurisdictions in the world has developed it has moved from being a "green energy" bragging point in annual reports to being an operational concern for most Independent System Operators. The fundamental problem with wind generation is its unreliability and variability. Wind generation is a bit like nutmeg. In small doses nutmeg is a pleasant treat to sprinkle on coffee or eggnog; taken in bulk it can be fatal. We are rapidly moving out of "pleasant treat" territory when it comes to wind generation.
11 Nov 2013

City sees drop in county tax as a result of wind farm valuation; Millsfield and Dixville pay significantly more

The city's share of the 2013 Coos County tax bill will drop by $129,230 because of the higher valuations assessed to the unincorporated places of Millsfield and Dixville. Millsfield's share of the county tax, however, will increase by $844,807 – from $32,138 to $876,945. Dixville's share of the county tax increases from just over half a percent to 1.8 percent or from $83,503 to $264,788.
6 Nov 2013

Deepwater wind moves into 'execution mode' for demo Block Island wind project

With the focus on project completion, Grybowski says the company's top priority is ensuring that Deepwater is able to satisfy the 5% safe-harbor provision to qualify for the investment tax credit. Among other requirements, developers must incur 5% of the project's cost by Dec. 31 to be eligible for the tax incentive. To satisfy the U.S. Treasury's 5% spend threshold, Deepwater plans to use a combination of "historical expenditures" and contracts signed with vendors until the end of the year.
24 Oct 2013

Regulators approve Maine wind contract but say Connecticut to miss out on some benefits

"The environmental effects … will primarily accrue to the citizens of sparsely populated Aroostook County, certain parts of Canada's Maritime Provinces, and the Atlantic Ocean," regulators said in their decision to approve the contracts. On the electricity from Maine: "Because of transmission limitations, it appears that the electricity generated by this project will remain exclusively or largely in Maine and not be delivered to Connecticut or elsewhere outside of Maine," regulators said.
24 Oct 2013

Regulators approve Maine wind contract but say Connecticut to miss out on some benefits

"The environmental effects … will primarily accrue to the citizens of sparsely populated Aroostook County, certain parts of Canada's Maritime Provinces, and the Atlantic Ocean," regulators said in their decision to approve the contracts. On the electricity from Maine: "Because of transmission limitations, it appears that the electricity generated by this project will remain exclusively or largely in Maine and not be delivered to Connecticut or elsewhere outside of Maine," regulators said.
24 Oct 2013

Champaign wind farm tax break battle looms

Developers of a Champaign County wind farm said they’re preparing to seek a special tax treatment from the state and county commissioners ...But some local officials said unanswered questions remain, and opponents argued the tax treatment is more about maximizing profits for the company than it is about making the project feasible.
24 Oct 2013

Cape Wind seeking government help to secure financing

Parker hopes that Cape Wind can't find lenders to help pay the more than $2 billion it will take to build 130 wind turbines, each one rising more than 400 feet out of Nantucket Sound. Cape Wind at one point said they would have no problem borrowing money to build the wind farm if the Massachusetts Department of Public Utilities approved generous agreements with power companies.
23 Oct 2013

Cape Wind seeking government help to secure financing

Parker hopes that Cape Wind can't find lenders to help pay the more than $2 billion it will take to build 130 wind turbines, each one rising more than 400 feet out of Nantucket Sound. Cape Wind at one point said they would have no problem borrowing money to build the wind farm if the Massachusetts Department of Public Utilities approved generous agreements with power companies.
23 Oct 2013

Wind energy tax credit likely over, but effect may not hurt like before

So how would Texas wind power fare if the 2.3-cent-per-kilowatt-hour incentive lapsed? That would depend on how long the credit is unavailable, observers say. But for a couple of reasons, the effect probably won't be as harsh as in past uncertain times. Jeff Clark, executive director of the Austin-based Wind Coalition, said he's not too worried about the ticking clock. “There's a lot of projects in the pipeline right now,” he said.
23 Oct 2013

Wind energy tax credit likely over, but effect may not hurt like before

So how would Texas wind power fare if the 2.3-cent-per-kilowatt-hour incentive lapsed? That would depend on how long the credit is unavailable, observers say. But for a couple of reasons, the effect probably won't be as harsh as in past uncertain times. Jeff Clark, executive director of the Austin-based Wind Coalition, said he's not too worried about the ticking clock. “There's a lot of projects in the pipeline right now,” he said.
23 Oct 2013

Iberdrola back on track with Clayton wind project

“Poor economic conditions, coupled with regulatory uncertainty at the federal and state level, have limited wind development at many projects across the country, including ours here in Jefferson County,” project manager Jenny L. Briot said in her recent letter to Clayton Town Supervisor Justin A. Taylor. In December, the developer notified the state Public Service Commission of its intent to seek a state Article X siting review.
22 Oct 2013

Wind power in poor regions may increase U.S. access to financing

Wind farms may become more attractive to investors because of new guidance that increases the number of banks that may participate in tax-equity financing, according to an industry group. The U.S. Treasury’s Office of the Comptroller of the Currency now permits national banks and federal savings associations to make tax-equity investments in wind farms that are in low-income regions and provide a public benefit, according to the American Wind Energy Association.
17 Oct 2013

Wind developers plan to seek tax deal soon

Jack Van Kley, an attorney for Union Neighbors United, said despite the revenue, taxpayers would be providing a tax break to a private company if the PILOT payment is approved. UNU is made up of a group of residents who are opposed to the project. “Certainly, if this project were to stand on its own without taxpayer assistance, it would not be profitable,” Van Kley said.
11 Oct 2013

Let the wind PTC die down immediately

As the federal budget debate continues to heat up, one of the contentious energy policy battles is over the extension of the wind production tax credit (PTC), a 2.3-cents-per-kilowatt-hour handout that is awarded to wind producers and other qualifying sources and continues for a decade after initial production.
8 Oct 2013

https://www.windaction.org/posts?location=USA&p=36&topic=Taxes+%26+Subsidies&type=Article
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