Wind Runs on Subsidies
In Australia wind developers are currently fighting back in a life and death battle against the threat of the RET being revoked. This is signaling the death knell for the renewable industry in the land down under.
While in the United States project financiers and project builders are breathing easier with the released notice announcing the security of continued qualification for the tax credits, PTC or ITC, if the projects have met the following tests: wind or renewable energy project had been started. or paid 5% of the costs by January 1 2014. The threshold to meet these tests were clarified and the one for the physical work test reads as;
“The Notice clarifies that there is no minimum amount of work or monetary threshold required to satisfy the Physical Work Test”
Meanwhile the doors remain wide open and things are swishing , swooshing and sizzling along for wind and other renewable projects In Ontario. The FIT 3 line up of approved projects has been made and this round was mainly comprised of solar installations:
FIT 3 hasn’t changed the appetite for some in doing business in Ontario such as Next Era ( parent company Florida Power and Light) They remain keen to continue to take advantage of Ontario and announced they were looking for even more projects to sustain them…..
Renewable energy projects grow vigorously with the guarantee of subsidies and Ontario continues to follow the path of sustaining the industry at all costs.