Articles filed under Taxes & Subsidies from USA

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

What does it really cost utility customers to subsidize clean energy?

Ratepayers already have coughed up $388 million in rebates and other financial incentives for the clean energy program to promote solar panels, wind projects, and other renewable energy initiatives during the first years of the program, ...but that amount does not include what customers have shelled out since the state largely switched to a more market-based program.
8 Oct 2013

Wind industry could lose its tax credits

Tax credits helped wind farms sprout up in Pennsylvania and across the country, but House Republicans are wondering whether the breaks are still helpful now that the industry has gained a foothold in the energy sector. Congress has until the end of the year to decide. The current tax credits expire then.
3 Oct 2013

GOP questions need for wind farm tax credit

Republican lawmakers signaled opposition Wednesday to renewing a tax credit for wind farms, arguing it's time for the industry to stand on its own two feet. Democrats and the wind industry say the renewable electricity production tax credit (PTC) is critical to developing diverse sources of energy, but Republicans expressed skepticism that the break is still needed.
3 Oct 2013

Time running out for New Jersey's long-delayed offshore wind pilot

The clock is quietly winding down on Fishermen’s Energy offshore wind project, a proposal its backers say could propel New Jersey into becoming a hub for offshore wind farms, and potentially create hundreds, if not thousands of new manufacturing jobs in the state. The 25-megawatt pilot, located 2.8 miles off Atlantic City, is the first to come under review by state regulators, but its prospects of moving forward are looking bleaker by the week, if not by the day.
30 Sep 2013

Time running out for New Jersey's long-delayed offshore wind pilot

The clock is quietly winding down on Fishermen’s Energy offshore wind project, a proposal its backers say could propel New Jersey into becoming a hub for offshore wind farms, and potentially create hundreds, if not thousands of new manufacturing jobs in the state. The 25-megawatt pilot, located 2.8 miles off Atlantic City, is the first to come under review by state regulators, but its prospects of moving forward are looking bleaker by the week, if not by the day.
30 Sep 2013

Wind subsidies, déjà vu

Congress should end—not phase down, not extend—the wind production tax credit this year. Americans deserve energy solutions that can make it on their own in the marketplace—not ones that need to be propped up by government indefinitely. Washington’s long-time policy of giving preferential tax treatment to special interests simply isn’t working.
25 Sep 2013

US clarifies PTC eligibility rules

The IRS notice offers a clearer definition of the requirement to "maintain a continuous program of construction" once it has begun. The new guidance indicates that any facility that is placed in service before 1 January 2016 will automatically be classified as having met the benchmark.
24 Sep 2013

$30 million in BETCs for Shepherds Flat wind farm? State needs to explain it better

The energy department has a task immediately ahead before yet another legislative hearing on the subject: It must tell lawmakers, who represent the Oregonians who underwrite incentive programs such as the BETC, whether Shepherds Flat got a deal too good to be true and whether it knows the right questions are being asked of an energy-producing applicant.
22 Sep 2013

Oregon lawmakers question triple wind tax credits

Shepherds Flat's three LLCs share a common parent company, Caithness Shepherd's Flat LLC. Caithness Shepherd's Flat LLC, in turn, is owned by the project developer, Caithness Energy, its turbine supplier, General Electric, and three investors brought in to harvest the project's tax benefits - Google, Itochu and Sumitomo of America. "I don't know how much more common ownership you could have."
18 Sep 2013

https://www.windaction.org/posts?location=USA&p=37&topic=Taxes+%26+Subsidies&type=Article
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