solar energy tax credits for businesses
In news from Oregon, it appears that the state's largest solar power project, now a 25 percent on its way to completion, will be negatively affected by HB 2472, which aims to reduce or restrict the activities of State for Energy Tax Credit (BETC), offered by the Oregon Department of Energy.
In As originally worded, the BETC contributes 50 percent of eligible project costs for high-efficiency combined heat and power generation from renewable resources energy and renewable energy manufacturing facilities of equipment, accredited more than five years at 10 percent per year.
The BETC also offers a pass-through option that allows a project owner to transfer 35 percent of the loan to a shareholder of a lump sum payment cash. Owners of projects can be public, nonprofit, or companies facing a tax liability, for example.
Now, HB 2472 proposes limit the total amount of money the state can issue under the BETC in a given year, and Daniel Eisenbeis of the League of Oregon Cities is not happy. Nor is the spokesman Renewable Northwest Project Suzanne Leta Liou, he sees the bill leading to lower number of renewable energy projects in the state, and some 1,700 jobs less.
Another unintended consequence of 2472 will be the increase in emissions of greenhouse gases, or greenhouse gases since the BETC as originally operated actually reduces emissions of greenhouse gases in 2007 and 2008 at half the carbon emissions normally produced in the state Boardman power plant.
The Boardman plant, located in Morrow County near Kennewick, a few miles south of the Washington State border, is only the central state of coal more important and also the largest stationary source of greenhouse gases. Operated by Portland General Electric (PGE) has been a thorn in the side of environmentalists in the three decades. Opened in 1977, continues to evade the restrictions on emissions, and now wants PGE taxpayers to spend $ 500 million to "fix" a plant that probably will close in the face of global warming in a matter of years.
What, then, is the legislature thought Oregon through the introduction of HB 2472? Some say the bill is being pushed by the state's financial problems. Oregon is the largest producer of nation of wood used in building trades, and with the collapse of the housing bubble in 2008, the construction industry has been in freefall.
But 2472 is not the only environmental measure losing ground in Oregon. Senate Bill 80, cap and trade, and HB 2940 (weakened 2007 renewable energy standard) are "anti-green" measures and both are favorites to win comfortably in the current economic climate.
As of June 15, HB 2472 was still in committee but, if passed, one million kilowatts Multnomah County solar project probably in flames, as the advocates of removing the disincentives BETC.
One million kilowatts by the drain, however, the Boardman plant is still operating. It's enough to make a cry of environment, and that's what Leslie Carlson for at BlueOregon are doing.
As noted by Carlson, with billions going to subsidize Big Oil over the past three decades, it seems a pity it can not "Spend a little money through promoting energy BETC that does not require soldiers or catastrophic climate change."
Amen, Leslie. Budget cuts may decrease the current recession, but clean cut, completely renewable solar energy, it seems the place to start.
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