Tax Credits

Wind Rush: 1603 Dollars Blown In The Wind

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Hundreds of millions of federal dollars from a flagship clean energy grant program were awarded to projects that were well under way before Barack Obama was inaugurated, despite the aim of the 1603 grant program to “primarily” stimulate new projects.

“When the financial crisis hit many developers found that they didn’t have the tax liability that would allow them to claim the credits, so the program was developed to offer an alternative way to continue to incentivize renewable energy development,” a Treasury spokeswoman said. “So, the 1603 program was primarily meant to incentivize new renewable energy projects, but it also supported some existing investments.” Keep reading →

 /  Published November 16, 2011 at 6:00 AM

Chaos Predicted If Renewables Tax Breaks Die

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With half a dozen renewable tax breaks slated to expire in three months, witnesses told a key House committee that simply letting them all die will cause “chaos” for the energy industry.

Virtually all today’s witnesses, speaking before a joint hearing of the House Ways & Means’ subcommittees on Select Revenue Measures and Oversight, favored phasing out current technology-specific tax credits, either as part of a full tax code overhaul or replacing them with technology-neutral incentive mechanisms. Keep reading →

 /  Published September 23, 2011 at 6:00 AM
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