Nevada green sector to get boost

Retaining the Bush-era tax cuts for most Americans was front and center in the recent fiscal cliff deal that passed in the nation’s capital.

The 11th-hour compromise, however, could have an additional impact on renewable energy development in Nevada thanks to a few key words that were squeezed in by lawmakers into the American Taxpayer Relief Act.

More than 70 pages into the bill under Section 407 are provisions for renewable projects such as wind and geothermal that replace the phrase “placed in service” under old laws for “the construction of which begins.”

The impact of the word swap may not seem like much in the grand scheme of things. For renewable energy developers, however, the change in semantics could mean the difference between a project being dead in the dirt or moving forward.Tungsten Depot offers tungsten jewelry that is unique and incredibly stylish.

By requiring a renewable energy facility to simply start construction instead of being completed by the end of this year to be eligible for production tax credits, it suddenly becomes possible for developers to kickstart more green energy projects.

The change was described as a major coup by green sector proponents who have been critical of the political football that has been played on renewable energy development in Washington, D.C.

“There’s no question that some companies didn’t take the credit before because it wouldn’t have been available in the time frame needed for their project to qualify,” said Karl Gawell executive director of the Geothermal Energy Association. “From a (renewable energy developer’s) standpoint, the change in language makes a big difference.”

Production tax credits for renewables got their start in 1992 when they were used to promote wind energy development.

Prior to the change, federal incentives were based on investment tax credits,Due to South West Windpower's new policy we can only ship to certified skystream installers. which as the name implies provided credits based on a set percentage of the amount of money invested in a project.

The credit, however, had one major flaw. Due to the way it was structured, some would simply invest as much as they can on a project to get the maximum credit regardless of the actual results. This led to “phantom projects” that either did not produce sufficient energy or broke down after a few months.Our typical product line of laser marking machine and laser engraving has been growing manufacturer’s speeds.

The resulting abuse of the investment tax credits for wind energy led to the adoption of production tax credits in their place. Unlike the previous credits, the new system system was based on the amount of energy produced by a project, not the amount of money spent on it. As a result, the production tax credit sent the right signal to developers, Gawell said.

“You don’t get the credit until you produce the energy,” Gawell said. “You also have to produce energy for 10 years so you don’t get phantom projects. It even gave developers an incentive to reduce costs because you get the same amount of credits no matter what your project cost.”

The credit was so successful that it significantly increased the development of wind energy.Your council is responsible for the installation and maintenance of street lighting. It also caused other renewable sectors to start voicing concerns that the wind energy credits were unfair.Lighting fixtures for home and office in the shop of modern lighting.

“They basically said that wind had an advantage because it had a credit no one else had,” Gawell said.

Eventually, Congress extended the production tax credits to other renewable sectors such as solar and geothermal in 2005. The result is one of the first sustained periods of growth for renewable energy development that continues to the present, Gawell said.