Tax Credits for Energy Storage

Congress is considering adding energy storage to its tax credit scheme. Better late than never. Here.

Share this post


Link to post
Share on other sites

(edited)

No! Let renewables stand on their own against natural gas. They have had lots of subsidies already. Time to stop the gravy train!

Edited by ronwagn
addition

Share this post


Link to post
Share on other sites

27 minutes ago, ronwagn said:

No! Let renewables stand on their own against natural gas. They have had lots of subsidies already. Time to stop the gravy train!

Just curious if you consider income tax deductions/exemptions from intangible and tangible drilling costs, lease costs, depreciation allowances, etc... "subsidies"?

If I were to invest $30K on a solar system and battery, and receive a $9K tax credit, how is that so different than investing $30K in a working interest in a well and very likely decreasing my tax liability a similar amount? Isn't that also a subsidy?

Share this post


Link to post
Share on other sites

Far as I am concerned, everything other than dependents, donations, depreciation, and expenses should be eliminated from the tax code.  So...  Put thousands of IRS accountants out of jobs. 

  • Like 1

Share this post


Link to post
Share on other sites

14 minutes ago, esgeo said:

Just curious if you consider income tax deductions/exemptions from intangible and tangible drilling costs, lease costs, depreciation allowances, etc... "subsidies"?

If I were to invest $30K on a solar system and battery, and receive a $9K tax credit, how is that so different than investing $30K in a working interest in a well and very likely decreasing my tax liability a similar amount? Isn't that also a subsidy?

Difference between tax credit and tax liability now isn't there?  Isn't one a percentage and the other a straight write off..... ???

<< Obviously I am not an accountant .. >>  😃

Share this post


Link to post
Share on other sites

11 minutes ago, Wastral said:

Difference between tax credit and tax liability now isn't there?  Isn't one a percentage and the other a straight write off..... ???

<< Obviously I am not an accountant .. >>  😃

For the Treasury's bottom line, they both equate to less revenue realized on GDP than if the subsidies/deductions/exemptions didn't exist. 

Share this post


Link to post
Share on other sites

8 minutes ago, esgeo said:

For the Treasury's bottom line, they both equate to less revenue realized on GDP than if the subsidies/deductions/exemptions didn't exist. 

Dodging much?  Tilting at windmills?

Share this post


Link to post
Share on other sites

(edited)

24 minutes ago, Wastral said:

Dodging much?  Tilting at windmills?

I'm not sure what you mean by this, but I like to think of myself as informed about what I invest in. I recognize the economics of oil and gas working interests (that I own) are sensitive to the ways the tax code is written.

Edited by esgeo

Share this post


Link to post
Share on other sites

7 hours ago, ronwagn said:

No! Let renewables stand on their own against natural gas. They have had lots of subsidies already. Time to stop the gravy train!

The way I see it, energy storage needs to be an integral part of any renewable power installation. They just didn't think to start making it from the beginning, I guess.

  • Great Response! 1

Share this post


Link to post
Share on other sites

On ‎4‎/‎11‎/‎2019 at 9:07 PM, ronwagn said:

No! Let renewables stand on their own against natural gas. They have had lots of subsidies already. Time to stop the gravy train!

Energy storage also backs up fossil fuels. What do think steps in when your CCGT trips?

Share this post


Link to post
Share on other sites

On ‎4‎/‎12‎/‎2019 at 4:45 AM, Marina Schwarz said:

The way I see it, energy storage needs to be an integral part of any renewable power installation. They just didn't think to start making it from the beginning, I guess.

You need back up whatever system you use (see point I made to Ron). This isn't unique to renewables.

Share this post


Link to post
Share on other sites

Didn't know they were batteries at power plants. Are there?

  • Haha 1

Share this post


Link to post
Share on other sites

15 hours ago, NickW said:

Energy storage also backs up fossil fuels. What do think steps in when your CCGT trips?

You don't set up a power plant with just one turbine, you enough for redundancy and you have a backup grid to rely on. Natural gas turbines are the backup for coal, wind, and solar plants. Batteries just starting to work as a backup and have not proven to be cost efficient. 

Share this post


Link to post
Share on other sites

On 4/17/2019 at 4:41 AM, ronwagn said:

You don't set up a power plant with just one turbine, you enough for redundancy and you have a backup grid to rely on. Natural gas turbines are the backup for coal, wind, and solar plants. Batteries just starting to work as a backup and have not proven to be cost efficient. 

The utilities have done their homework and concluded otherwise

https://energypost.eu/utilities-are-starting-to-invest-in-big-batteries-instead-of-building-new-power-plants/

Share this post


Link to post
Share on other sites
Sign in to follow this  
Followers 0