Tag Archives: credit

GA HB 818 would reduce renewable energy tax credits

Snuck into a renewable energy bill is a
proposed decrease to Georgia renewable energy tax credits.
It already passed the House and needs to be fixed in the Senate.

In

HB 818 Section 2.3:

(G) For calendar year 2014, $5 2.5 million.”

The Georgia House passed this bill unanimously, apparently
paying attention only to the addition of geothermal and not
noticing this item at the end.
It is in the

Senate Finance Committee.





Sen.

Tim Golden is a member.
Less than a year ago he

assisted in passing these very same renewable energy GEFA tax credits
and the next day in Valdosta at the ribbon cutting for the
Wiregrass Solar project he said:

…solar power at one time was a theory, and now it’s in practice.

He and other Georgia State Senators need
to know somebody in the statehouse is trying to stop that solar practice.

Capitol Office

121-G State Capitol

Atlanta, GA 30334

Phone: (404) 656-7580

Fax: (404) 651-6767

    tim.golden@senate.ga.gov

District Information

110 Beacon Hill

Valdosta, GA 31602

Fax: (229) 241-7732

Why decrease?
The current GEFA renewable energy tax credits are already almost
entirely subscribed through 2014.
Why not increase them?

-jsq

PS: Owed to Claudia Collier.

PPS: Current law:

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Projects that can actually be built —Jeff Glavan of MP2 Capital



Representing a San Francisco venture capital firm,

MP2 Capital,
Jeff Glavan said he’s looking for
medium to large scale projects that can actually get built,
with partners in each geographic market, since development is very local.

MP2 also does projects with municipalities that can’t take tax credits
because they are tax exempt. MP2 funds instead.

It’s not just all about large systems….
There’s a market for 1 to 5 megawatt systems.

The three things they look at are
credit, commercial terms, and economic terms.
Commercial terms are what hold up most projects.
MP2 likes to be involved in negotiating a
Power Purchase Agreement (PPA)
to avoid terms like host may need to repair roof which could
involve removing the solar system for some undefined amount of time.

MP2 is actively looking for solar partners.

-jsq

Georgia clean energy tax credits: yes, they are available

Inquiring minds want to know if Georgia still has its energy rebate program.
The answer is yes.



The usual place to look for state tax incentives is

DSIRETM
(Database of State Incentives for Renewables & Efficiency).
That database shows for Georgia not only state
financial incentives but also a local loan program for
Athens-Clarke County
and a local rebate program for Atlanta.
There’s a thought!
Valdosta or Lowndes County could do a loan program for real clean renewable energy!
or the Valdosta-Lowndes County Industrial Authority (VLCIA) could do that
using some of its $15 million in bonds and other debt, assuming it hasn’t
already spent all of it on locking up land.

Or Georgia Power or Colquitt Electric could do that,

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