NewEnergyNews: MONEY SPENT ON NEW ENERGY INCENTIVES PAYS FOR ITSELF: STUDY

NewEnergyNews

Gleanings from the web and the world, condensed for convenience, illustrated for enlightenment, arranged for impact...

The challenge now: To make every day Earth Day.

YESTERDAY

  • Weekend Video: A Different Way To Think About The “Bridge” Fuel
  • Weekend Video: This Is What The Bridge Fuel Can Do
  • Weekend Video: Climate Change And Strength In Things That Remain
  • THE DAY BEFORE

  • FRIDAY WORLD HEADLINE-Denmark Red Meat Tax Would Fight Climate Change
  • FRIDAY WORLD HEADLINE-Saudi Arabia’s Big Solar Build, Ambitions
  • FRIDAY WORLD HEADLINE-Wave Energy Proves Itself In Australia
  • FRIDAY WORLD HEADLINE-Wind That Is Old Is New Again
  • THE DAY BEFORE THE DAY BEFORE

    THINGS-TO-THINK-ABOUT THURSDAY, April 28:

  • TTTA Thursday-A Climate Change Playlist
  • TTTA Thursday-Solar Goes To Sea
  • TTTA Thursday-A New Energy-Powered Food Truck
  • TTTA Thursday-A Two-Minute Full EV Charge?
  • THE DAY BEFORE THAT

  • ORIGINAL REPORTING: New software helps utilities boost community solar programs
  • ORIGINAL REPORTING: Hawaii’s landmark work to value distributed energy resources
  • AND THE DAY BEFORE THAT

  • TODAY’S STUDY: Why A Western Region Grid Means More New Energy
  • THE LAST DAY UP HERE

  • TODAY’S STUDY: Hawaii’s Utility Answers Its Regulators
  • QUICK NEWS, April 25: Clinton Rejects Koch – ‘Not Interested’ in Climate Deniers’ Support; Pentagon Turns To New Energy To Cut Costs; The Utilities-And-Solar Debate
  • --------------------------

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    Anne B. Butterfield of Daily Camera and Huffington Post, is an occasional contributor to NewEnergyNews

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    Some of Anne's contributions:

  • Another Tipping Point: US Coal Supply Decline So Real Even West Virginia Concurs (REPORT), November 26, 2013
  • SOLAR FOR ME BUT NOT FOR THEE ~ Xcel's Push to Undermine Rooftop Solar, September 20, 2013
  • NEW BILLS AND NEW BIRDS in Colorado's recent session, May 20, 2013
  • Lies, damned lies and politicians (October 8, 2012)
  • Colorado's Elegant Solution to Fracking (April 23, 2012)
  • Shale Gas: From Geologic Bubble to Economic Bubble (March 15, 2012)
  • Taken for granted no more (February 5, 2012)
  • The Republican clown car circus (January 6, 2012)
  • Twenty-Somethings of Colorado With Skin in the Game (November 22, 2011)
  • Occupy, Xcel, and the Mother of All Cliffs (October 31, 2011)
  • Boulder Can Own Its Power With Distributed Generation (June 7, 2011)
  • The Plunging Cost of Renewables and Boulder's Energy Future (April 19, 2011)
  • Paddling Down the River Denial (January 12, 2011)
  • The Fox (News) That Jumped the Shark (December 16, 2010)
  • Click here for an archive of Butterfield columns

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    Some details about NewEnergyNews and the man behind the curtain: Herman K. Trabish, Agua Dulce, CA., Doctor with my hands, Writer with my head, Student of New Energy and Human Experience with my heart

    email: herman@NewEnergyNews.net

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    Your intrepid reporter

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      A tip of the NewEnergyNews cap to Phillip Garcia for crucial assistance in the design implementation of this site. Thanks, Phillip.

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    Pay a visit to the HARRY BOYKOFF page at Basketball Reference, sponsored by NewEnergyNews and Oil In Their Blood.

  • ---------------
  • Monday, June 23, 2008

    MONEY SPENT ON NEW ENERGY INCENTIVES PAYS FOR ITSELF: STUDY

    There is so much evidence of how valuable the development of wind energy is for the nation it is surprising anybody even thought to do this study: The tax credits the Congress keeps denying New Energy (6 times since December and kudos to the New Energy industries for refusing to take "no" for an answer) would pay for themselves in new tax revenues generated.

    The new study from GE shows that wind farms built in 2007 will bring $250 million into the U.S. Treasury. The cost from the incentives will be offset by income tax revenue from worker wages, project vendors and power output after the 10-year credit period ends.

    Bills with a variety of strategies to fund the production tax credits (PTCs) and investment tax credits (ITCs) for New Energy have been put forward (cuts to fossil fuels tax breaks, cuts to offshore hedge fund returns, etc.) but the recalcitrant Republican minority in the Senate has not accepted any of the plans.

    It is likely, if Congress does not extend the wind energy industry's PTCs (and the solar energy industry’s ITCs), the New Energy players with the necessary financial leverage will move out of the U.S. during 2009 and the smaller companies will suffer.

    Steve Taub, senior vice president of investment strategy, GE Energy Financial Services: "People are already putting the brakes on projects…"

    A solar company CEO recently confided to NewEnergyNews he expects 2009 to be a "lost" year. And why?

    This study shows it is not because funding New Energy costs taxpayers. And polls repeatedly show it is not because taxpayers oppose the development of wind and solar and electric vehicle transport. And science keeps showing it is not because the nation and the world don't NEED the development of clean energy.

    It is because a minority of fossil fools in the U.S. Senate continue to act in defense of a few wealthy patrons and an antiquated 20th century energy system.

    See the GE Financial Services powerpoint presentation
    PTC More than Pays for Itself

    (From the GE study - click to enlarge)

    Wind Farm Taxes Make Up Losses From Incentives – GE study
    Mark Peters, June 18, 2008 (Dow Jones via CNN Money)

    WHO
    GE Energy Financial Services

    WHAT
    Impact of 2007 Wind Farms on US Treasury, a GE Energy Financial Services study, finds wind energy’s production tax credit (PTC) would pay for itself in new revenues generated.

    (From the GE study - click to enlarge)

    WHEN
    - The Senate denied the extension of the investment tax credits (ITCs) and production tax credits (PTCs) for the 6th time on June 17.
    - The ITCs and PTCs expire January 1, 2009.
    - 2003: Congress let the PTCs expire; 2004: 77% drop in new U.S. wind capacity.

    WHERE
    - GE has 34 wind farms in 13 states.
    - It is the U.S.’ biggest wind turbine manufacturer and the 2nd biggest manufacturer in the world.

    WHY
    - GE had a vested interest in funding the study because it is heavily invested ($3 billion) in New Energy.
    - The PTC kicks back 2.1 cents/kilowatt-hour produced to wind energy builders for the first 10 years of a project’s life.

    (From the GE study - click to enlarge)

    QUOTES
    Michael Eckhart, president, American Council on Renewable Energy: "Too often, politics, rather than economics, has shaped the debate about extending the production tax credit…GE's new study identifying additional economic benefits of the wind industry should bring all parties together."

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