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Wind Farm Counting On Tax Credits For Further Development
By Linda Wuebben
P&D Correspondent
The wind farm world-of-developers were holding their breath last week.
The $700 billion bailout package being considered by both the house and senate last week contained a tack-on issue which was highly important to the growing wind farm energy industry. Production tax credits used by energy developers to get the most bang for their buck out of the costly wind farm projects was about to expire on Dec. 31, 2008.
“The Crofton Wind Farm would definitely have been put on hold,” said John Hansen, president of Nebraska Farmers Union. “We expected the extension of the tax credit to be included in an energy bill and were surprised and certainly relieved when we found out it was a tack-on to the bailout bill.”
The Nebraska Farmers Union and the American Corn Growers Association both have vested interests in the proposed Crofton Wind Farm.
“A lot of work by a lot of people has gone into both the Bloomfield Wind Project and also the proposed Crofton farm,” said Hansen. “How ironic that both houses of Congress had to set aside their differences and work together to make the bailout bill a success.”
Hansen added the bailout package will allow small wind farms the opportunity to extend the tax credit provision and also help larger wind farm projects to be developed as well.
With that in mind, the Crofton wind project is expected to be operational September or October of 2009 said Dan McGuire of the American Corn Growers Association.
“We have been working with Jewel Energy of Woodstock, Minn., since 2001,” said McGuire. “We succeeded in passing legislation in 2002 in Nebraska which made it possible to progress with wind energy projects.” McGuire said. LB 629 allowed Community-Based Economic Development (C-BED) projects to progress in Nebraska.
The Elkhorn Ridge LLC wind farm north of Bloomfield and the Crofton Hills Wind Farm west and slightly south of Crofton, were developed this spring because of the change in public policy in Nebraska said McGuire.
“The economic opportunities which will be available here in Knox County will be tremendous,” said McGuire. The 20 percent vision of wind energy in the United States estimates by the year 2020 nationwide electricity used across the nation would be supplemented by wind energy. This new industry would create 2.75 million jobs across the nation and Nebraska and Knox County are entitled to their fair share.
McGuire compares this modernization of wind energy a farm-to-market road for electricity.
The Crofton Hills project is expected to be basically one-half the size of the Elkhorn Ridge Wind Farm north of Bloomfield and will cover approximately 2,400 acres. Its projected cost will be $69 million and employ four permanent employees when finished. Construction is expected to begin next spring.
The $700 billion bailout package being considered by both the house and senate last week contained a tack-on issue which was highly important to the growing wind farm energy industry. Production tax credits used by energy developers to get the most bang for their buck out of the costly wind farm projects was about to expire on Dec. 31, 2008.
“The Crofton Wind Farm would definitely have been put on hold,” said John Hansen, president of Nebraska Farmers Union. “We expected the extension of the tax credit to be included in an energy bill and were surprised and certainly relieved when we found out it was a tack-on to the bailout bill.”
The Nebraska Farmers Union and the American Corn Growers Association both have vested interests in the proposed Crofton Wind Farm.
“A lot of work by a lot of people has gone into both the Bloomfield Wind Project and also the proposed Crofton farm,” said Hansen. “How ironic that both houses of Congress had to set aside their differences and work together to make the bailout bill a success.”
Hansen added the bailout package will allow small wind farms the opportunity to extend the tax credit provision and also help larger wind farm projects to be developed as well.
With that in mind, the Crofton wind project is expected to be operational September or October of 2009 said Dan McGuire of the American Corn Growers Association.
“We have been working with Jewel Energy of Woodstock, Minn., since 2001,” said McGuire. “We succeeded in passing legislation in 2002 in Nebraska which made it possible to progress with wind energy projects.” McGuire said. LB 629 allowed Community-Based Economic Development (C-BED) projects to progress in Nebraska.
The Elkhorn Ridge LLC wind farm north of Bloomfield and the Crofton Hills Wind Farm west and slightly south of Crofton, were developed this spring because of the change in public policy in Nebraska said McGuire.
“The economic opportunities which will be available here in Knox County will be tremendous,” said McGuire. The 20 percent vision of wind energy in the United States estimates by the year 2020 nationwide electricity used across the nation would be supplemented by wind energy. This new industry would create 2.75 million jobs across the nation and Nebraska and Knox County are entitled to their fair share.
McGuire compares this modernization of wind energy a farm-to-market road for electricity.
The Crofton Hills project is expected to be basically one-half the size of the Elkhorn Ridge Wind Farm north of Bloomfield and will cover approximately 2,400 acres. Its projected cost will be $69 million and employ four permanent employees when finished. Construction is expected to begin next spring.
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