The wind industry last week proposed phasing out its prized tax credit in response to concerns from deficit hawks on Capitol Hill who say the government can no longer afford to subsidize wind turbine construction. But it is proving difficult to come up with a reliable estimate of how much the proposal would cost. Wind advocates say the production tax credit effectively costs taxpayers nothing because the $1 billion-plus per year that the government spends on the credit is more than recouped through federal, state and local taxes paid throughout the construction and operation of the wind farm. Wind detractors, meanwhile, are using some different math to put an inflated price tag on the industry’s proposal.
Areas afflicted by the U.S. drought slightly shrank this week, yet more than half the country remains parched. The U.S. Drought Monitor today said 51.8 percent of the country is in drought, down from last week’s 52.2 percent. Areas affected by severe and extreme drought inched upward, though the percentage of the country in exceptional drought remained the same.
“I think it’s just appalling that we’ve got 300,000 megawatts of wind energy projects all dressed up and ready to go to the prom that can’t find a connection,” Clinton told several hundred people gathered to mark a decade of wind energy development in the Midwest. “But it is a metaphor for the ongoing struggle for the future versus the present.” The former president’s more than hourlong address to a gala celebration for Wind on the Wires, a public policy nonprofit working to promote wind energy in the Midwest, touched on a broad spectrum of topics, from the looming “fiscal cliff” in Washington, to the realpolitik behind the 1991 Kyoto Protocol, to the meteorological factors that made Sandy a devastating superstorm.
The wind industry’s proposal to phase out its most prized federal incentive shook up the ongoing debate over how much support the government should provide to all sectors of the energy industry ahead of a tax reform debate in which a range of benefits are likely to face increased scrutiny from the growing ranks of congressional debt hawks. The American Wind Energy Association unveiled for the first time a proposal to phase out the production tax credit over a period of six years, fulfilling mounting requests from Capitol Hill to put such a plan on the table.
With their proposal not getting much traction this year, the sponsors of legislation that would open up renewable energy projects for private investors called on President Obama today to support their measure in the 113th Congress. Sens. Chris Coons (D-Del.) and Jerry Moran (R-Kan.) say they are hopeful that with the president’s backing, legislation that would guarantee renewable energy firms the investment potential already afforded to traditional energy companies could garner broader support next year. The legislation was introduced over the summer, and it would primarily allow renewable energy outfits the use of what is known as master limited partnerships, or MLPs. Coons said the legislation would “level the playing field between traditional and energy businesses.”
The Department of Energy today announced recipients of up to $168 million over the next six years for demonstration projects aimed at advancing the offshore wind industry. DOE awarded funding to seven projects in six states. The projects will each receive $4 million to complete their planning and evaluation phases, and up to three will be selected to receive additional funding, subject to future congressional appropriation, with the goal of having advanced turbines operating by 2017.
In the overall energy mix, the use of renewable energy sources like wind and solar power will grow the fastest in annual percentage terms, but company officials maintain that they will still account for about 3 percent of the world’s total energy production in three decades.
For apartheid, it was universities in the West and Midwest that got the ball rolling. On the issue of Sudan and Darfur, the cause caught fire earliest at Ivy League schools. But for the latest college divestment movement, most of the action is unfolding at schools like Middlebury, the University of Vermont, Bowdoin, the University of New Hampshire, Tufts, Vassar and Swarthmore. Five weeks into a full-court press, a quixotic campaign to persuade universities to rid their endowments of stock in fossil fuel companies seems to be striking the deepest chord on campuses in the Northeast, organizers report. To highlight the role that fossil fuel emissions play in global warming, students at more than 100 colleges across the country are protesting the investment of their school’s endowment funds in large companies like Exxon, BP and Shell
By 2030, scaled-up green power could meet the demands of a large grid 99.9 percent of the time, according to new research from the University of Delaware. A mix of offshore and onshore wind, along with contributions from solar power, could provide reliable power flow during all but a handful of days in the hypothetical four-year period under study.
The Department of Energy said Wednesday that each developer would receive up to $4 million to complete the engineering, design and permitting phases of their projects in six states. Three of the seven will then be selected to receive up to $47 million over four years, subject to Congressional appropriations, for construction and installation, with the aim of having them begin commercial operation by 2017. So far, no offshore wind farm is operating in American waters. The projects are in Maine, New Jersey, Virginia, Texas, Ohio, and Oregon.