OKLAHOMA WIND COULD BOOM – THEN BUST

Oklahoma wind industry looks to finish projects before tax incentives end

Michael Overall, June 16, 2015 Tulsa World

Oklahoma wind developers foresee a hectic 18 months as they race to complete project before their state tax incentives expire December 31, 2016. They also foresee uncertainty and a potential crash following the incentives’ expiration. The recently enacted SB 498 terminated wind developers’ 5-year property tax exemption and SB 502 ended wind developers’ investment/new jobs tax credit. Wind projects currently in production or put into production by December 31, 2016, will retain the full 5-year property tax exemption. Fiscal conservatives backed the laws to limit the impact of the incentives on a budget deficit expected to be $611 million for fiscal year 2016. Legislative consent to the laws was produced through a compromise brokered by stakeholders. The zero emissions production tax credit is expected to allow Oklahoma wind to remain cost-competitive but it is expected to be a target for budget hawks. click here for more

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