Articles filed under Taxes & Subsidies
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.
The clean energy industry is rushing to hitch a ride on President Joe Biden’s emerging infrastructure plan, lobbying for a decade-long extension of coveted tax credits as the White House drafts a recovery proposal that could top $3 trillion.
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.
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.
Franklin County may need to repay about $469,000 to the state because the owner of the 44-wind turbine facility in Kibby and Skinner townships was successful in its effort to get a tax abatement, county Clerk Julie Magoon told commissioners Tuesday.
Citing calculations from the shopping portal Check24, the total amount paid was about 900 million euros more than in 2019. One reason was the high consumption due to home office use. But the primary reason was because of the rising cost of green electricity.
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.
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.
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.
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.
Wyoming lawmakers rejected a pair of bills Thursday aiming to raise revenues through the state’s energy industries, one of which would establish an excise tax on electricity production in the state and another that would increase the tax burden for the wind energy industry.
An agreement to extend these tax breaks for multiple years last year fell apart after he White House balked at some of the clean energy incentives and Congress instead passed a narrow one-year extension of some non-controversial tax breaks.
Fifteen years ago, hardly any of the electricity we use in Northern Ireland came from renewable sources like wind and solar power.
The Cattaraugus County Industrial Development Agency updated its eligible projects policy earlier this week in a way that could impact the proposed $455 million Alle-Catt Wind Farm. The IDA Board of Directors was already working under a 2018 directive from the Cattaraugus County Legislature not to grant tax breaks to large industrial turbine projects.
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”.
After impassioned public comment on the topic, the Legislature’s Joint Committee on Corporations, Elections and Political Subdivisions sent a bill to next year’s legislative session that would eliminate a three-year electricity tax moratorium available to new wind energy projects.
Wyoming lawmakers narrowly advanced a bill Wednesday that would remove an electricity tax exemption that applies to new wind energy projects in their first three years, with some on the committee viewing the exemption repeal as a way to potentially help the state's revenue streams.
The action throws the project into limbo as the local tax reductions were considered critical for construction to move forward. However, the vote also represents a significant victory for many residents in the towns of Sanford and Windsor who had long fought the installation on aesthetic and environmental grounds. Despite the setback, Bluestone sponsors vowed to press on.
Tuesday night at the Niagara County Courthouse, opponents of the proposed Bear Ridge Solar project in Cambria/Pendleton showed their support of a county law denying property tax exemptions to local solar and wind energy generation projects. For Niagara County Legislator David Godfrey, Tuesday night's legislative battle over opting out of a state-authorized property tax exemption for solar and wind energy systems had nothing to do with going green.
Government and industry today began talks about what to do with 16GW of onshore wind capacity due to exit Germany's old support scheme by 2025