Power Finance & Risk Publishes Energy State Tax Credit Article by David Burton, Richard Page

The article “Energy State Tax Credit 2014 Roundup” by Akin Gump tax partner David Burton and associate Richard Page has been published by Power Finance & Risk.

In it, the authors summarize developments in the past year relating to energy tax credits at the state level.

The states covered are Arizona, Iowa, Louisiana, Minnesota, New York, North Carolina, Texas, Utah and Virginia.

Among the developments highlighted:

  • Arizona – “[A]s part of the legislative changes, now a cogeneration facility incorporated within or associated with an ethanol plant may receive tax credits for heat and power generation. Also, cogeneration facilities are no longer required to use natural gas but may now use methane, landfill gas, or biogas.”
  • Minnesota – “Minnesota is another state that bucked the trend of providing tax incentives for solar. It has enacted a tax with respect to solar power systems with a capacity of over one megawatt. The tax is $1.20 per MWh produced.”
  • Texas – “On Sept. 23, 2014, the Texas Comptroller of Public Accounts called for an end to tax credits for wind energy in Texas. In supporting this position, the comptroller noted the cost of the credits, the already existing wind-energy infrastructure in Texas, the lack of reliability of wind energy, and the ‘unfair market advantage’ that the subsidies provide.”

Burton is the editor of Akin Gump’s Tax Equity Telegraph blog, which addresses tax and energy policy issues in the United States.