Wind energy supporters in Nebraska are hoping their senate will pass Bill L423 which will ‘enhance the state-level production tax credit for renewable electric generation facilities’.
Under the new bill, the owner of the wind power project would notify the Department of Revenue the method of calculating the amount of credit they will receive from the following options:
- a 1.5 cent tax credit per each kilowatt-hour of electricity generated by a renewable electric generation facility that qualifies as a community-based energy development project that begins commercial operation on or after the effective date of this act; or
- a one-time credit equal to 30 percent of the total cost of construction of any renewable electric generation facility that begins commercial operation on or after the effective date of this act. The credit shall not exceed $2 million.
Although Nebraska currently generates a lot of electricity needs through renewables, it would allow the state to sell excess power to neighbouring states.
Not to mention that landowners and farmers will receive around $5million in revenue from wind power projects, which help to offset high property taxes. President of the Nebraska Farmers Union, John Hansen said, “The numbers are huge, and we just don’t have that many new sources of revenue staring us in the face.”