Senator Collins introduces PERPETUAL tax credit for her windy friends

Joining Senators Collins and Carper are Senators Angus King (I-Maine), Sherrod Brown (D-Ohio), Ben Cardin (D-Md.), Chris Coons (D-Del.), Robert Menendez (D-N.J.), Edward Markey (D-Mass.), Jack Reed (D-R.I.), Brian Schatz (D-Hawaii), Elizabeth Warren (D-Mass.) and Sheldon Whitehouse (D-R.I.).

U.S. Senators Introduce Incentivizing Offshore Wind Power Act

Bill makes investment tax credit permanent for first 3,000 megawatts of new offshore turbines

U.S. Senators Susan Collins, (R- Maine), and Tom Carper, (D-Delaware), have introduced the Incentivizing Offshore Wind Power Act aimed at providing financial incentives to encourage investment in offshore wind energy in the United States.

This bipartisan bill would create an investment tax credit that is redeemable for the first 3,000 megawatts of offshore wind facilities placed into service, amounting to approximately 600 wind turbines, the press statement said.

In the past, the U.S. Congress has offered a temporary credit for investments in wind power, but the last extension of this credit will expire before 31 December, 2019.

This credit has been a lifeline to the nascent offshore wind industry, the Senators said. The Incentivizing Offshore Wind Power Act would give the industry the certainty needed to plan investments and maximize deployment of this clean power technology.

“Maine is a leader in the emerging offshore wind industry, which holds great potential for the future of clean energy and the creation of good jobs,” said Senator Collins.

“By giving private sector companies the certainty they need, our legislation will help accelerate the development of this promising industry in America and create a new, sustainable source of domestic power.”

The legislation defines offshore facilities as any facility located in the inland navigable waters of the United States, including the Great Lakes, or in the coastal waters of the United States, including the territorial seas of the United States, the exclusive economic zone of United States, and the outer Continental Shelf of the United States.

“Offshore wind energy has the potential to power every home, school and business from Florida to Maine with clean, renewable energy,” said Senator Carper.

“Investing in new offshore wind projects spurs economic growth and has the potential to create millions of good-paying American jobs. It also helps enhance our national security by encouraging domestic energy production and protects our environment and public health by deploying a cleaner source of energy. I’m proud to partner with Senator Collins to provide this growing industry the certainty it needs to draw private sector investments in new offshore wind facilities across the country.”

Joining Senators Collins and Carper are Senators Sherrod Brown (D-Ohio), Ben Cardin (D-Md.), Chris Coons (D-Del.), Angus King (I-Maine), Robert Menendez (D-N.J.), Edward Markey (D-Mass.), Jack Reed (D-R.I.), Brian Schatz (D-Hawaii), Elizabeth Warren (D-Mass.) and Sheldon Whitehouse (D-R.I.).

https://www.collins.senate.gov/newsroom/senators-collins-carper-int...

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Comment by jan van eck on August 2, 2017 at 6:03pm

The underlying problem with Senator Collins' enthusiasm for this new Bill is that she does not have a clear understanding of the physics of industrial wind, nor of the relative cost burdens that this will place on her constituents.   Unfortunately, the reality is that these projects only make money for (and it is definitely Big Money with the 30% tax credit rebate check to the General Partners of the developing syndicate) these "partners" in the project, to the costs of the taxpayers in the rebate check, and to the further and continuing costs of the locals in their rate subsidies to the inflated sale price of the output.  These deals "sound nice," can be made to "look great" on a Prospectus, but will not do the job.  And I don't know how you can counter the wind-industry propaganda, either. 

Comment by Barbara Durkin on August 2, 2017 at 2:56pm
Correction, I missed % stating 70 wind projects. I intended to convey 70% of offshore wind insurance claims relate to cable problems.
Comment by Barbara Durkin on August 2, 2017 at 2:18pm

Indeed Ms. Collins per Open Secrets Top Donors are invested in wind energy.

But there are very serious red flags being ignored by those quick to spend our money...in perpetuity.

Industry insurance and mechanical news sources (less politicized) have sent up red flags regarding technology (assumed to be reliable at our risk). 

Offshore wind turbines are corroding internally & externally & industry is challenged to fix the problems.
http://www.materialsperformance.com/articles/material-selection-des...

Cable problems, (more than 70 of wind project insurance claims), repair average cost is U.S. $6,450,630.08. 

Subsea Cable Installation cost averages $6 million per mile per Sue Tierney Analysis Group

Offshore Cabling 2017

2017-03-07 - 2017-03-09
Cable damages remain an ongoing issue with average costs of € 5 million per repair. Submarine cable repairs account for more than 70 % of all insurance claims of installed wind parks.

http://www.offshorewind.biz/events/offshore-cabling-2017/

LIPA says NO to DeepWater Wind 2 due to transmission cost concerns:

LIPA also didn’t select a joint proposal by developers Invenergy and Anbaric Holdings to deliver out-of-state wind and solar energy through a new undersea power cable called Poseidon, the official said, because building a new transmission line was “not a low-cost endeavor.”

http://www.newsday.com/long-island/source-lipa-rejects-planned-sola...

Study: Offshore wind projects' unanticipated high costs "could have huge implications"

A quarter of projects had underestimated the costs of operational expenditure, leading to concerns that this could have huge implications on performance and valuation of the project further down the line. Many of the projects that were surveyed had not yet reached the twenty-year lifetime, and so much of the project budgeting was based on educated assumptions, but there was real concern that these underestimations could up the costs of projects by millions. 

https://www.jlt.com/media-centre/news-and-press-releases/2017/june/...

Offshore Virginia wind project too complex and costly per Dominion Offshore Wind

http://renews.biz/106913/dominion-demo-on-life-support/#.WQxsgCTBRN...

Comment by John F. Hussey on August 2, 2017 at 11:36am

How much money is Collins getting PAID by BIG WIND?

Hannah Pingree on the Maine expedited wind law

Hannah Pingree - Director of Maine's Office of Innovation and the Future

"Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine."

https://pinetreewatch.org/wind-power-bandwagon-hits-bumps-in-the-road-3/

 

Maine as Third World Country:

CMP Transmission Rate Skyrockets 19.6% Due to Wind Power

 

Click here to read how the Maine ratepayer has been sold down the river by the Angus King cabal.

Maine Center For Public Interest Reporting – Three Part Series: A CRITICAL LOOK AT MAINE’S WIND ACT

******** IF LINKS BELOW DON'T WORK, GOOGLE THEM*********

(excerpts) From Part 1 – On Maine’s Wind Law “Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine if the law’s goals were met." . – Maine Center for Public Interest Reporting, August 2010 https://www.pinetreewatchdog.org/wind-power-bandwagon-hits-bumps-in-the-road-3/From Part 2 – On Wind and Oil Yet using wind energy doesn’t lower dependence on imported foreign oil. That’s because the majority of imported oil in Maine is used for heating and transportation. And switching our dependence from foreign oil to Maine-produced electricity isn’t likely to happen very soon, says Bartlett. “Right now, people can’t switch to electric cars and heating – if they did, we’d be in trouble.” So was one of the fundamental premises of the task force false, or at least misleading?" https://www.pinetreewatchdog.org/wind-swept-task-force-set-the-rules/From Part 3 – On Wind-Required New Transmission Lines Finally, the building of enormous, high-voltage transmission lines that the regional electricity system operator says are required to move substantial amounts of wind power to markets south of Maine was never even discussed by the task force – an omission that Mills said will come to haunt the state.“If you try to put 2,500 or 3,000 megawatts in northern or eastern Maine – oh, my god, try to build the transmission!” said Mills. “It’s not just the towers, it’s the lines – that’s when I begin to think that the goal is a little farfetched.” https://www.pinetreewatchdog.org/flaws-in-bill-like-skating-with-dull-skates/

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