Sign Up For Novogradac Industry Alert Emails

Renewable Energy Tax Credits News Briefs - September 2014

On July 23, Rep. Tammy Duckworth, D-Ill., along with several members of the Illinois Congressional Delegation, sent House Speaker John Boehner, R-Ohio, a letter regarding the production tax credit (PTC). The representatives asked Boehner to bring legislation that includes an extension of the PTCfor renewable energy to the floor for a vote. The members of the Illinois Congressional Delegation say in the letter that wind energy plays an important role in reducing reliance on foreign oil, and therefore tax extenders legislation should be voted on immediately. The letter also reports that renewable energy has provided $105 billion in investment in the U.S. economy since 2005, and the industry supported 17,400 American manufacturing jobs in 2013. The members close the letter by stating that Congress must address the need to extend the PTC as soon as possible.

***

On July 31, the New York State Energy Research and Development Authority (NYSERDA) announced the launch of a solar project database. The database includes information about nearly 10,000 solar projects that participated in New York solar incentive programs throughout the past 10 years. Data includes project applications and installations between 2003 and 2014 through NYSERDA’s open enrollment solar photovoltaic incentive programs. Also included is a map of installation locations and a graph of megawatts installed by county and by market segment. The database is available at NYSERDA.

***

SunEdison Inc. announced Aug. 12 the appointment of Clayton C. Daley Jr. to the company board of directors as an independent member, as well as a member of the audit committee. He is the former vice chairman and chief financial officer of Procter and Gamble. Currently, Daley serves on the board of directors, is chairman of the audit committee and is a member of the compensation and option committee of Starwood Hotels & Resorts Worldwide Inc., a hotel and leisure company. He also serves on the board of directors of Foster Wheeler AG, an international engineering, construction and project management contractor. Previously, Daley served as chairman of the audit committee for Nucor Corporation, a manufacturer of steel and steel products. His term was effective Aug. 1.

***

On Aug. 11, Sally Jewell, interior secretary, announced that the Bureau of Ocean Energy Management (BOEM) defined three wind energy areas offshore of the eastern United States. BOEM has awarded five commercial wind energy leases that total approximately 307,590 acres for potential commercial wind energy development. There were two non-competitive leases and three competitive leases. The two non-competitive leases were for the proposed Cape Wind project. The three competitive leases, which generated $5 million in bids, include the Kitty Hawk WEA at roughly 122,405 acres; the Wilmington at approximately 51,595 acres; and the Wilmington East WEA at approximately 133,590 acres. Before any leases are offered for competitive auction, BOEM will complete an environmental assessment to determine potential effects associated with issuing leases and approving site assessment activities in the Wind Energy Areas, in accordance with the National Environmental Policy Act.

***

On Aug. 4, the American Wind Energy Association (AWEA) released its U.S. Wind Industry Second Quarter 2014 Market Report. The report found that during the first half of 2014, the U.S. wind industry installed 478 turbines, totaling about 835 megawatts (MW). In the first quarter, 217MW and 135 turbines were installed. During the second quarter, 619MW and 343 turbines were installed. A total of 15 projects in nine different states were installed for the year. However, it is Texas, with 400MW, followed by Nebraska with 201MW and Michigan with 136 MW that have the most wind capacity installed. At the end of June 2014, wind project developers reported more than 14,600MW of wind capacity under construction across 106 projects in 21 states. The report is available at American Clean Power.

Journal Category:

Renewable Energy Tax Credits

Authors:

Novogradac

Learn more about Novogradac's expertise and many services