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 [新闻]US renewables developers to lose grant, but retain tax credi |
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cbp
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作者：cbp 在 投资移民 发贴, 来自【海归网】 http://www.haiguinet.com
US renewables developers to lose grant, but retain tax credits – Bass
10 December 2011
The US cash grant programme will not be extended before its expiration at the end of the year, but an extension of the production tax credit (PTC) is on solid ground in 2012, according to a Republican Congressman.
The Section 1603 Treasury cash grant programme, which was created by the American Recovery and Reinvestment Act in February 2009 to address the shortage of tax equity capacity for renewable energy projects caused by the economic recession, expires on 31 December. The industry is making a last push to extend it.
But Congressman Charles Bass (R-New Hampshire), well-known for his support of wind, solar and biomass energy, called the cash grant programme, “the most difficult and least likely” to be extended.
Congress has several issues that must be dealt with in the next 20 days, including appropriations bills or a continuing resolution to keep the federal government operating, making it unlikely that an extension of the programme will be on Congress’ radar, he said.
Senator Mark Udall (D-Colorado) had a different take, telling attendees of the American Council on Renewable Energy’s policy forum in Washington, DC on Wednesday he is “guardedly optimistic” about having the votes to include an extension in must-pass legislation.
“There are some vehicles in which we could include the 1603 provisions,” he said. “We have a harder job than we’ve ever had because we really do have to continue this conversation as to how we pay for tax incentives and subsidies and credits.”
Odds for PTC extension ‘more favourable’
The odds for an extension of the PTC for wind, biomass and other forms of renewable energy are much more favourable, Bass said. A bill has been introduced to extend the PTC through 2016, aligning it with the scheduled expiration of the investment tax credit for solar.
“Because they’re not immediate, I think they have a much better chance of being extended,” he said. “I personally believe those two tax credits are absolutely critical to the continued viability of alternative energy development. The 1603 obviously is the most generous ... and it also expires very soon. It’s not going to get extended this month.”
Congressman Earl Blumenauer (D-Oregon) called the use of a grant in lieu of a tax credit “a powerful tool to get more out of each dollar that is invested”.
“It is less likely to be abused and there’s less friction,” he said. “More goes to where it’s needed.”
A recent letter in support of the cash grant programme has at least 86 signers, but Blumenauer asked attendees for help in recruiting Republican supporters “because this is essential to keep this momentum that has been painfully developed”.
PTC extension bill is urgent, despite end-2012 expiry
Blumenauer co-sponsored the PTC extension bill, but has held back from getting more than the current 18 Democrats officially on board for fearing of “getting it out of sync” because he needs help bolstering Republican support in order to make the bill bipartisan.
“Sadly nothing happens around here unless we’re walking over a cliff and you know that we’re walking over several cliffs,” he said. “There’s no sense of urgency unless you help us generate the urgency.”
Patrick Eilers, managing director of private equity firm Madison Dearborn Partners, said a PTC extension is urgent, despite the end of 2012 expiration date, because projects must start construction in March to finish in time to quality for the tax credit.
Renewable energy will reach grid parity sometime in the 2015 to 2020 time period, he predicted, but that could be pushed back without these incentives, which are needed “just as a bridge” until parity can be achieved.
The 30GW of solar projects in late-stage development are “truly at risk” if there is no answer to enable capital to flow to the sector, said Arno Harris, CEO of developer Recurrent Energy.
“1603 is a perfect answer to that,” he said. “The risk is immediate and the risk is that developers, both on the wind and solar side, are going to start to slow down their development and we lose a little bit of the progress that we’ve made.”
Gloria Gonzalez
作者：cbp 在 投资移民 发贴, 来自【海归网】 http://www.haiguinet.com
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 [新闻]US renewables developers to lose grant, but retain tax credi -- cbp - (4271 Byte) 2011-12-11 周日, 22:23 (3047 reads)
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