Nebraska One Step Closer To Getting State PTC

Posted by NAW Staff on April 23, 2015 No Comments
Categories : Policy Watch

14150_nebraskaseal Nebraska One Step Closer To Getting State PTC The Nebraska legislature amended and advanced L.B.423, the renewable energy production tax credit (PTC) for Nebraska.

L.B.423, introduced by Rep. Jeremy Nordquist, D-Omaha, requires wind farms to be constructed within Nebraska and achieve commercial operation after September.

The PTC would be a $0.01/kWh credit for the first two years of commercial operation. After two years, the credit will be reduced by one-tenth of a cent each two-year period. In years nine and 10, the credit would be worth $0.006/kWh. The investment tax credit would be a 30% credit, with a $2 million cap per project. Credits are freely transferable if granted to a project with a nameplate capacity of 20 MW or less – otherwise, they are transferable only by syndication.

David Levy, a lobbyist for Baird Holm, says the legislature is likely to consider the bill on the second round of debate, scheduled for early in the week of May 4.

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