Wednesday, February 28, 2024
Hawai'i Free Press

Current Articles | Archives

Tuesday, December 31, 2013
Federal Wind PTC Tax Credit Expires
By Selected News Articles @ 9:35 PM :: 5691 Views :: Energy, Tax Credits

The wind tax credit is expiring, but it’s not the big deal it had been previously

by Peter Maloney, Platts, December 26, 2013 (excerpts)

…When the PTC was last extended, in January 2013, Congress changed the criteria. A project only had to be in construction before the expiration date to be eligible for the tax credit. Then in September, the IRS issued an advisory on what qualifies as “under construction.” Under the IRS guidance a project is under construction if the developer has incurred 5% of total capital costs.

That stretched the development pipeline into the future and prompted some last minute shopping on the part of some developers.

MidAmerican Energy has ordered up to 656 wind turbines, representing about 1,050 MW, from Siemens at a cost of about $1.9 billion. And NextEra Energy Resources has bought about 1,000 MW of turbines that are now in IRS “safe harbor” status.

Under the IRS rules, the turbines must be delivered by April 15, 2014, and the wind farm must be online by year-end 2015.

The IRS ruling is also prompting an uptick in M&A activity, as developers with the cash to buy turbines buy up projects from developers with sites but not enough capital to incur the minimum 5% investment.

That is not to say that there is not the usual rush under way to finance projects before December 31. Sources report the GE Energy Financial Services, among other financial institutions active in the tax equity market, are furiously working to close deals before the last day of the year….

The combination of the IRS ruling and the tail wind from utility solicitations will push wind power development well into next two years.

But as that pipeline of projects begins to clear a familiar noise could return. There is already some talk of putting together a retroactive extension of the PTC that would start the clock ticking again in 2015.

read … Platts

Study: Hawaii nets a piddling $620K from PTC

 

Links

TEXT "follow HawaiiFreePress" to 40404

Register to Vote

2aHawaii

808 Silent Majority

Aloha Pregnancy Care Center

AntiPlanner

Antonio Gramsci Reading List

A Place for Women in Waipio

Ballotpedia Hawaii

Broken Trust

Build More Hawaiian Homes Working Group

Christian Homeschoolers of Hawaii

Cliff Slater's Second Opinion

DVids Hawaii

FIRE

Fix Oahu!

Frontline: The Fixers

Genetic Literacy Project

Grassroot Institute

Habele.org

Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii ConCon Info

Hawaii Debt Clock

Hawaii Defense Foundation

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federalist Society

Hawaii Federation of Republican Women

Hawaii History Blog

Hawaii Homeschool Association

Hawaii Jihadi Trial

Hawaii Legal News

Hawaii Legal Short-Term Rental Alliance

Hawaii Matters

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Shippers Council

Hawaii Smokers Alliance

Hawaii State Data Lab

Hawaii Together

HIEC.Coop

HiFiCo

Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Moms for Liberty

Honolulu Navy League

Honolulu Traffic

House Minority Blog

Imua TMT

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

Investigative Project on Terrorism

July 4 in Hawaii

Kakaako Cares

Keep Hawaii's Heroes

Land and Power in Hawaii

Legislative Committee Analysis Tool

Lessons in Firearm Education

Lingle Years

Managed Care Matters -- Hawaii

Malama Pregnancy Center of Maui

MentalIllnessPolicy.org

Military Home Educators' Network Oahu

Missile Defense Advocacy

MIS Veterans Hawaii

NAMI Hawaii

Natatorium.org

National Christian Foundation Hawaii

National Parents Org Hawaii

NFIB Hawaii News

No GMO Means No Aloha

Not Dead Yet, Hawaii

NRA-ILA Hawaii

Oahu Alternative Transport

Obookiah

OHA Lies

Opt Out Today

OurFutureHawaii.com

Patients Rights Council Hawaii

PEACE Hawaii

People vs Machine

Practical Policy Institute of Hawaii

Pritchett Cartoons

Pro-GMO Hawaii

P.U.E.O.

RailRipoff.com

Rental by Owner Awareness Assn

ReRoute the Rail

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

Robotics Organizing Committee

School Choice in Hawaii

SenatorFong.com

Sink the Jones Act

Statehood for Guam

Talking Tax

Tax Foundation of Hawaii

The Real Hanabusa

Time Out Honolulu

Trustee Akina KWO Columns

UCC Truths

US Tax Foundation Hawaii Info

VAREP Honolulu

Waagey.org

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii

Yes2TMT