South Dakota Legislature Kneecapping State’s Wind Potential
Mar 4th, 2010 Originally Posted by Susan Kraemer
South Dakota’s potential for utility-scale wind projects could be seriously curtailed by three bills now in the House that reduce the attractiveness of investment in a permanent, safe and clean energy source that could bring billions in much needed revenue to the state.
Like cutting itself off at the knees to save on shoe leather, the Republican-held legislature is considering three pieces of very short sighted legislation that cut off the few tax breaks that wind investment had.
Senate Bill 123 would remove all incentives for large capital improvement projects.
Senate Bill 195 would eliminate any refunds on projects that cost more than $40 million.
House Bill 1060 heard yesterday would cut tax refunds for large commercial projects.
Like all new power stations, wind projects are “large capital improvement projects”, “cost more than $40 million” and are “large commercial projects”. The shortsighted laws curtail wind power.
“When you’re talking investments in wind, you’re talking about heavy, capital-intensive projects. A cheap project for us is $300 million.” says Steve Wegman executive director of the South Dakota Wind Energy Association.”We have a huge problem coming down the pike, and we need consistent public policy.”
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