Articles filed under Taxes & Subsidies

New legislation would set wind turbine tax table

Two separate bills introduced in both the state House of Representatives and Senate, if passed, would institute an applicable multiplier for how wind turbines are taxed, setting a standard depreciation table across the state. The legislation has turbines taxed at 100% of their value for their first tax year, and their value will decrease by 5% each year until 15 years have gone by, with the rate then being a constant 30% of its original taxable value each year until the turbine is removed. Since 2012, more than 1,100 tax claims have been filed in the state’s tax court as developers and owners of the wind turbine farms have tried to use their own tax tables that devalue the turbines’ value faster than those created by local governments.
25 Sep 2021

Third of Scotland's big wind farms linked to tax havens including Cayman Islands

An investigation by The Ferret has also revealed that 39 of the largest 50 wind farms are ultimately owned outwith Scotland in England, Spain, France, Germany, Norway, China and elsewhere. Campaigners allege that the wind industry’s tax havens have deprived public services of “many millions” of pounds, while boosting private profits. Scotland’s renewable energy wealth is being “looted” by international tax avoiders, and profits “siphoned overseas”, they say. 
13 Jul 2021

State Tax Commission deals blow on wind turbine tax cash

The STC has changed the formula for taxing wind turbines twice, in 2011 and again in 2014, after initially approving guidelines in 2007 that “was deemed acceptable to everyone,” County Administrator Tracey Cordes stated in a memo sent to county commissioners in March. ...If the decision stands, Gratiot County could be on the hook to repay more than $3 million in overcharged taxes and reduce future expected revenue, including a reduction in five countywide millages – Commission on Aging, sheriff’s road patrol, parks and recreation, library and economic/agriculture.
22 Jun 2021

Chapter 313 program doomed after Texas lawmakers miss deadline; 'We’re going to lose a lot of projects'

“Sunsetting this program is a critical victory for each and every Texan — made possible by a tidal wave of bipartisan support for free-market principles and broad property tax relief Texans sorely need," Kevin Roberts, TPPF’s CEO, said in a statement. “For two decades, Texas taxpayers have borne the brunt of special-interest corporate welfare that raises our property taxes and allows government to pick winners and losers. These 20 years of hard data have proven Chapter 313 doesn’t live up to its lofty promises to create jobs or lure new businesses to our state."
28 May 2021

Maine counties chafe at lower-than-expected payments from wind farms

But several counties and towns are finding out they are getting less revenue out of the wind projects than they had expected when they were wooed in the 2000s and 2010s by developers looking to erect turbines several hundred feet tall along local remote, elevated ridgelines. In some cases, the developers are arguing that recent advancements in wind turbine technology have made newer models so efficient that older, less efficient turbines erected nearly a decade or more ago have lost much of their taxable value.
8 Apr 2021

Franklin County to repay state for wind farm tax abatement

According to a letter sent to Helix Maine Wind Development on March 4 by the Maine Revenue Services Property Tax Division, the state reduced the valuation of the 44-turbine facility by $54.86 million. As a result, a refund of $469,611.60 is warranted for property in the townships of Wyman, Jim Pond, Kibby, Chain of Ponds and Skinner for tax year 2020, according to supervisor Lisa Whynot's letter to Helix. The refund to Helix is expected to be issued within four to six weeks.
19 Mar 2021

Top Democratic tax writers differ on clean energy breaks

Wyden's plan would establish one credit for production of electricity or investment in facilities producing lower emissions than the national average, increasing in value with a maximum credit applied to zero-carbon electricity sources. Another is a credit for cleaner transportation fuels, with an expanded credit for electric vehicle purchases, and the last would incentivize energy efficient homes and buildings.
16 Mar 2021

Electricity costs explode in Germany; 900 million euros more than in 2019

According to figures from the Federal Network Agency in 2020, they accounted for more than three quarters of the electricity bills of private households. According to the EU statistical office Eurostat, Germany, along with Denmark and Belgium, has the highest electricity prices for household customers. ...Federal Minister of Economics Peter Altmaier from the CDU wants to relieve consumers and the economy of electricity prices with a system change in the promotion of green electricity.
28 Feb 2021

Solar farm tax break is a bad deal for Brown County

In a month or two, the Brown County Commissioners will decide on a proposal that affects all county residents. Intersect Power, a California-based solar-power development company, requested an 85 percent tax abatement over 10 years to build a 3,000-acre solar farm in southwest Brown County. There are countless reasons why this is a bad deal for Brown County. The commissioners want to hear what residents have to say, so we urge you to write, call or email your commissioner and tell them to vote no on the abatement.
19 Jan 2021

Why is solar energy getting 250 times more in federal tax credits than nuclear?

But it’s also clear that the vast disparity in subsidies being given to solar and wind versus the amount being given to nuclear energy reflects the mismatch between the rhetoric about the possible threat of climate change and the reality of how Congress doles out money to politically connected industries. ...if we are going to have any hope of limiting greenhouse gas emissions we must also preserve and extend the operating lives of existing nuclear reactors.
28 Dec 2020

Wind, solar, EE, CO2 storage win tax breaks

The Energy Act of 2020 includes a two-year extension of the investment tax credit (ITC) used by solar power generators (keeping the ITC at 26% through year-end 2022 instead of falling to 22% in calendar year 2021), a one-year extender for the production tax credit (PTC) used by wind developers, and a new 30% ITC for offshore wind projects that commence construction by the end of 2025.
21 Dec 2020

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

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