FAIL TO ADVANCE"
Note: Hopefully saving thousands of Acres also!
Portland, Maine (Platts)--26 Oct 2016 533 pm EDT/2133 GMT
After reviewing bids offered in a multi-state request for proposals, Massachusetts, Connecticut and Rhode Island are entering contract negotiations to buy power from six projects totaling about 460 MW, with most of the generation coming from solar projects.
The smaller-than-expected procurement is "consistent with our understanding that the initial RFP was to be used as a procurement vehicle to test for market pricing," UBS Securities said Wednesday. The equity firm expects a larger Massachusetts-led RFP to be issued next spring will be "the 'real' opportunity for project procurement."
The states received 24 offers in response to a mid-November clean energy RFP. By jointly seeking renewable supplies, the states expected to be able to reduce the price of the offers, which are confidential.
The winning bidders announced Tuesday include Ranger Solar, based in Yarmouth, Maine, with a proposal for five solar farms in Connecticut, Maine and New Hampshire totaling 220 MW.
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On the tax side, this package included an Investment Tax Credit for solar energy that would ramp down over a number of years, eventually becoming permanent with a smaller credit than in the earlier years.
For wind, the package included a Production Tax Credit that will be ramped down and phased out over five years. The goal of the package was to end the stop-start tax incentives that are so disruptive to businesses and utilities that want to deploy additional renewable power.
A Possible explanation why Solar was favored over wind ......... I$ It the Money ?