cherrytree group llc logo

Cherrytree Group LLC Blog

RSS Grab the Cherrytree Group Real Estate Blog feed

Get e-mail notifications of new blog posts! Enter email address below.


Delivered by FeedBurner

 

Wind Production Tax Credits Drive Wind Power Growth

Wednesday, September 26, 2012
...by Warren Kirshenbaum

When the Hoosac wind project’s 19 turbines start generating wind power by year’s end in northwestern Massachusetts, the benefits will go well beyond pollution-free electricity.

American workers fabricated the turbines and blades and installed the towers, and American workers will operate them. The hill towns of Monroe and Florida will be bolstered by annual tax payments equivalent to more than 10% of their annual operating budgets. And the equivalent of nearly 10,000 homes will be powered by electricity that isn’t saddled by the health or safety risks of coal and nuclear energy.

This story is being replicated across the country as homegrown wind power has doubled over the past four years, to 50 gigawatts, sufficient to power 13 million homes and retire 44 coal power plants. Particularly exciting is the fact that since 2005, the percentage of U.S.-manufactured components in these wind installations has jumped from 25% to 60%, keeping more than 400 factories in 43 states humming.

A key driver of this phenomenal growth has been a low-profile federal policy called the wind production tax credit.

This tax incentive, which helps wind compete with coal and natural gas power plants, is critical for financing new projects. Regrettably, it is scheduled to expire at the end of this year and has become a partisan football, prompting Congress to slow-walk its renewal.

Ending this policy could recklessly stall an industry that has grown at an impressive clip through the Great Recession. Other factors share the credit for this explosive growth, including improved turbine design and mandates like the one here in Massachusetts requiring utilities to ramp up their reliance on renewables. But wind power developers will tell you that the production tax credit is essential for signing power purchase agreements with utilities and securing financing.

The consequences of killing the wind tax credit are dire. A December 2011 study by Navigant Consulting estimated that investment in wind projects would drop 65%, from $15.6 billion in 2012 to $5.5 billion in 2013, and the industry would have to lay off nearly half of its workforce – about 37,000 people – next year. Here in New England, plans to install nearly 2,800 megawatts of wind power would be jeopardized.

Fortunately last month the Senate Finance Committee voted by a 19 to 5 bipartisan tally to extend the tax credit for one year, which has the support of the National Association of Manufacturers and the U.S. Chamber of Commerce. Congress should finish the job this fall and send an extension to the president to ensure that wind projects and the tens of thousands of jobs dependent on them go forward into next year.

For information or assistance with a wind production tax credit or other renewable energy tax credits, contact The Cherrytree Group.

Patriot Ledger

Almost $3 Billion In NYC Tax Credits Have Not Been used

Friday, September 02, 2011

...by Warren Kirshenbaum

A New York City budget watchdog says up to $2.9 billion in tax credits intended to boost the local economy after the Sept. 11 attacks have gone unclaimed.

The Independent Budget Office says it is difficult to track how many companies took advantage of the federal tax credits aimed at spurring hiring and business investment. Local elected officials have not succeeded in persuading the federal government to convert the tax breaks to cash.

But the report released Wednesday finds that most of the rest of New York City's $20.5 billion federal aid package has been spent or will be spent on redevelopment in lower Manhattan.

The biggest chunk of money, $4.6 billion, is being spent on transportation projects including a new World Trade Center transportation hub.

Original article Wall Street Journal


Recent Posts


Tags

production tax credtis, Boston economic development bill, MA foreign investment Housing Development Incentive Program, Quincy microturbines wind energy credit tax credt commercial real estate owners private sector investment investment objectives converting tax credits to cash, MA energy efficient tax deductions tax credit to spur redevelopment American Recovery and Reinvestment Act of 2009 - Section 1603 Historic Preservation Investment Tax Credit new market credits solar projects Plymouth, MA LSPA, Boston non-renewable energy sources Commercial Real Estate Loan Amortization Periods largest accidental marine oil spill renewable energy tax credtis, Boston monstrous oil spill partial equity participation renewable energy tax credits, MA tax advantages, Boston solar energy properties sale of tax credits tax deductions New Markets Tax Credit, Boston independent gas station owners renewable energy, Boston San Francisco buy commercial real estate, MA Brownfields programs non-bank resources for capital funding economics of environmental projects NIMBY not in my back yard BTC program, Boston capped landfills production tax credit renewable energy jobs massachusetts BTC program, Boston new normal invest cost of producing renewable energy renewable energy funding solar system REIT industry investing in commercial real estate, Boston solar power development ITC, Boston solar farms invest in real estate tax credits to fix up historic buildings gasoline price fixing historic building tax credit, New Bedford gasoline market manipulation tax credits, Boston residential real estate tax credits offshore wind tax breaks outsourcing energy production Housing Development Incentive Program historic and low income housing Brownfields tax credit, Massachusetts MGL Ch 21E business investment economy Massachusetts Contingency Plan alternative funding sources Massachusetts tax credits transfer of tax credits state and federal tax credits, Boston real estate projects brownfields tax credits environmental projects building improvements small business loans financing federal tax Credit tax planning strategies Tax Credit construction jobs renewable energy tax credits, Boston brownfields redevelopment, MA loaning money to consumers Kirshenbaum Law, Cherry Tree, LLC, Real Estate, MA renewable energy, MA downturn solar power project development commercial tax credits, New Bedford examine tax credits federal and state tax credits brownfields tax credit investing in surface lots commercial building tax deductions San Jose Brownfields sites, MA equity market rate program, MA wholesale acquisitions SRECs REITs, Boston Massachusetts Former Getty owners economically distressed areas wind energy tax credit, Boston energy tax credit monetization of ITC, Boston motion picture tax credits commercial leases sources of funding historic rehabilitation credits destructive oil spill american recovery and reinvestment act Massachusetts state tax credits oil spill renewable energy industry Historic rehabilitation tax credits brownfields tax credit, Boston new markets geothermal power cleantech capitals selling tax credits for cash FERC green energy thayer morgan interivew community block grants Brownfields program, Boston new markets tax credits wind farm development commercial investing in parking lots biomass power film tax credit incentives brownfields, MA cherrytree group llc private equity offerings venture development capital MA Brownfields tax credt, MA Historic credits, RI tax credits, RI private equity historic rehabilitation tax incentives, Boston historic preservation tax incentives, Boston multi-family construction polluted sites tax credit, New Bedford tax advantaged development Historic tax credits sustainable technology Massachusetts Ballot Questions, Question 2 Explained economic growth banking REITS heat and power investors in renewable energy informational technology renewable energy grants capital line funding solar power free up capital hydro power real estate tax-excempt bonds state film tax credits, MA private equity' midterm elections american symphony orchestra state tax credits, MA Housing Development Incentive Program, MA brownfields projects, MA tax relief development of the renewable energy industry equity requirements preservation of mills solar energy production real estate lawyer engery credit, MA hydro energy production solar energy credits private equity offerings, ma engery tax credit, MA historic rehabilitation tax credits, Boston Brownfields sites solar power initiative movie tax credit BP Gas station owners Warren Kirshenbaum tax credits for environmental clean up, Boston new market tax credits tax credit consultant Massachusetts brownfields tax credits, Boston tax credit programs, New Bedford new markets investments Historic credits tax credit syndication MA sale of renewable energy credits urban redevelpment historic rehabilitation tax credit, Boston federal low income housing tax credit financial incentives to develop real estate in MA investments in solar energy renovation projects Federal Historic Rehabilitation Tax Credit methods of renewable energy production federal government portability of tax credits environmental remediation real estate investment trusts capital raising questions, MA community development financial institutions brownfields redevelopment, CT Fim Tax Credit revenue investing in real estate in MA historic rehabilitation tax credit Massachusetts Brownfields Tax Credits remedy operation status solar energy development biodiesel renewable energy credit low-income housing tax credits selling tax credits the difference between tax credits and tax deductions declining property values Brownfields Act, economically distressed areas, Massachusetts Brownfields Tax Credits, Massachusetts Contingency Plan, MGL Ch 21E, RAO, remedy operation status, renewable energy, sale of tax credits, tax advantaged development, tax credit syndication, tra permitting procedure wind subsidies commercial tax credits, Lowell community rehabilitation state historic tax credits depressed and booming markets historic remediation, MA commercial tax credits, MA developing real estate, MA historic property preservation, Boston Chapter 40B vote results real estate lawyer, MA brownfields redevelopment ITCs, MA 40B credited with spurring upwards of 80% new development rural energy for america program green standards disaster relief, Boston real estate properties commercial real estate in MA LIHTC tax credits secure capital wind The Cherrytree Group renewable energy credits, MA PTC, Boston renewable energy incentives new market tax credit massachusetts non-profit wind power 1603 Treasury Grant converting tax credits to cash obtaining capital Gulf Coast victimized new housing developments commercial real estate private investments investing in apartments, MA sale of a tax credit deepwater horizon oil spill fuel cell initiatives Martha's Vineyard development in Massachusetts low income housing tax credits brownfields tax credit, CT renewable tax credits, Boston environmental remediation tax credits federal new market tax credits Chapter 40B explained preservation of historic buildings trash facility monetize a renewable energy tax credit, Boston capital finance investment tax credit multitude of renewable resources wind production tax credit historic preservation tax credit NYC tax credits Seattle solarize Massachusetts new york pops more control over financing costs renewable energy program tax credits for gateway cities, New Bedford Massachusetts BTC, Boston commercial tax credit ITCs distressed asset investing renewable energy development build a wind farm citizens housing and planning association green energy projects distressed asset investment fund wind incentive large capital projects news state tax credits renewable energy projects sydicator of tax credits Broad Medows Salt Marsh energy tax credits extending Brownfields tax credit, Boston commercial tax credit program, MA Massachusetts brownfields tax credit credit line funding hydro electric power new market historic preservation tax credit, Boston wind power technology Massachusetts gas station owners boycotting BP gas stations Business Financing energy companies RECs office space devastating environmental damage REIT investments LIHTCs rehabilitate properties Rhode Island landfill gas facility SREC infrastructure investment weak economy workforce development rehabilitation how REITs works QECBs real estate, Boston energy efficiency improvement projects Massachusetts film tax credit real estate attorney investment into business distressed asset investment tax credits for wind power, Boston monetizing your tax credits rownfields Act tax credits, MA Brownfields tax credt program, Boston film tax credit, Boston clean energy tax credit investments asset stripping tax credits on brownsfields renewable energy tax credits RI renewable energy credits hedging transactions investment tax credits business solar investment tax credit invest in development projects gas station loss of income energy efficient property Massachusetts Brownfields tax credit, Boston EB-5 Green Card Program capital funding tax credit sydication recession cleantech film tax credits, MA tax credits for development MA Brownfields tax credt new energy technologies money lending federal investment tax credit economic slump REAL program wind tax credit capitalism renewable energy certificates invest in commercial real estate Brownfields tax credit program, Boston expiring tax credits wholesale energy negative environmental effect brownfields tax incentives, Boston business capital commercial tax credts, Boston Austin renewable energy tax break contractors, Boston, MA tax credit broker real estate attorney, ma business capital raising capital, MA commercial buildings tenant representative commercial real estate attorney buy real estate, MA extension of BTC, Boston Boston commercial real estate lawyer brownfields, CT Summertime Economy in Boston Brownfields Act, MA rehabilitation of historic buildings, Boston historic rehabilitation, Boston The Transactional Law Group - MA brownfield cleanup program affordable housing solar ITC HUD insured mortgages community development small business Brownfields tax credt, Boston marine and hydrokinetic, solar fuel cells brownfields projects, Boston renewable energy tax credit energy systems commercial real estate investments new markets tax credit program commercial energy tax deductions historic rehabilitation investing in surface parking lots foreign investors commercial tax credits, Boston federal tax credits solar facilities restoration projects commercial real estate investment build green commercial tax credits, Fall River brownfields tax credit, MA solar energy markets 1603 Grant solar installations Boston Marathon multi-family apartments equity investments brownfields tax credits, Boston low-income neighborhoods foreign capital wind energy tax credit expensive to produce Brownfields tax credt tax credit programs private sector investments income tax credit solar investment tax credit value-added services historic tax credit Historic tax credits, MA Commonwealth Solar Rebate Program visas for imigrants community development entity deduction for energy efficient buildings credits production tax credit, Boston power generation, Boston private equity offerings commercial tax credits Fim Tax Credits solar energy array projects global energy demand renewable energy PTC real estate investments real estate development tax deductions EPA brownfields grant money investment tax credits, MA wind engery tax credit, MA CHAPA film credits, MA BTC, Massachusetts solar investment tax Historic tax credits, RI investing in apartment projects, MA small residential properties renewable energy tax credit, Boston capital requirements rehabilitating historic buildings, Boston investments business loans real estate strategy historic tax credits, Boston solar energy laws of Brownfields Historic rehabilitation tax credits, MA develop renewable energy systems LIHTC NMTC making money with commercial real estate investing in commercial real estate RECs, MA renewable engery credit, MA tax incentives and credits alternate funding tax incentive deals historic preservation tax credits, Boston distressed asset investment fund, ma brownfields developers, Boston, MA construction visas for buying homes BP oil spill market rate housing tax credit, MA wind power, Boston Massachusetts tax credit program credit for income producing properties real estate deals solar renewable energy credits finance wind energy credits real estate investment, Boston REIT distressed asset sales cleantech cities Quincy, MA disaster recovery assisstance, Boston commercial properties Kirshenbaum Real Estate Chicago federal energy regulatory commission thayer morgan Quincy Broad Medows Salt Marsh brownfields laws tax credits speaker series wind farm tax credit wind tax credits, Boston geothermal private equity, MA renewable energy expensive to produce borrow money multi-family housing, MA biomass facilities Cape Cod borrowing by small businesses Louisianna brownfield redevelopment, CT Brownfields credits new market program film tax credit commercial tax credit attorney what is Brownfields tax credit, Boston EB-5 Regional centers power generation, MA tax credits to help economy qualified energy conservation bonds Cape Wind solar pilot program list of brownfields sites film tax credit money, MA EB-5 brownfields Credits, MA Massachusetts historic rehabilitation tax credit developing real estate in MA renewable resources clean technology real estate investment trusts, Boston Brownfields Tax Credits, MA venture capital traditional funding solar capacity real estate business asset investment tax credtis, Boston distressed assets financing solar installations tax advantages BTC, Boston solar initiatives residential properties tax incentives Massachusetts brownfields tax credits, MA Transactional Law Group renewable energy facility RAO debt-service

Archive

Disclaimer

This Blog is made available by the lawyer publisher for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this blog site you understand that there is no attorney client relationship between you and the Blog publisher. The Blog should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.