The Oregon House voted to eliminate the Business Energy Tax Credit program and replace it with smaller projects.
The Oregon House voted to eliminate the Business Energy Tax Credit program and replace it with smaller projects.
House Bill 3672 now is moving to the Senate.
Renewables advocates say the new tax credits create a structure that could someday be used to lure jobs building and operating renewable energy facilities, but the proposed funding level is too low to make much of a difference.
Rep. Jules Bailey, a Portland Democrat who helped negotiate the new renewable tax credits, said lawmakers made a conscious choice to end tax incentives for those large projects, saying $10 million from the state isn’t going to make much of a different on a project costing $300 million. While renewable energy advocates would like to see the 35 megawatt cap lifted in the future, Bailey said that’s unlikely.
Read more at Forbes.
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