Wyoming to House America’s Largest Wind Farm

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Billionaire Philip Anschutz is building America’s largest windfarm in Carbon County, Wyoming. The wind farm’s 1000 turbines will generate enough electricity to power all of San Francisco and Los Angeles.  The project will cost $8 billion, with $100 million already invested.

Wyoming has some of the strongest winds in the country due to air funneling through from the Rocky Mountains. However, the project is facing backlash and many Wyoming citizens believe that the farm will have a negative effect on the state’s coal industry as well as create an eyesore.

The only state to tax wind power, Wyoming’s lawmakers are pushing for an increase in the renewable energy tax from $1 to $3 or $5 per megawatt hour. Opposers fear that this will push wind developers away and result in a loss of new jobs. Economist Robert Godby suggests instead that the state provides a tax break to developers building wind farms to create jobs and opportunities.

Other wind projects in the state include Viridis Eolia’s $3 billion wind farm and Rocky Mountain Power’s $3 billion wind farm and transmission line.

John Hensley, Deputy Director of industry data and analysis for the American Wind Energy Association believes that Wyoming could lose a major opportunity if it doesn’t soon accept wind power.

Globally, wind power is growing at around 25% per annum and the US aims to produce at least 20 percent of its electricity with wind power by 2030. To ensure future wind power growth, the technology must keep evolving to improve reliability and capacity and reduce costs. If your company is conducting research and development activities relating to renewable energy, it may be eligible for the research and development tax credit. Contact Swanson Reed R&D Tax Advisors to learn more.

Nebraska’s New Power Plant to Reduce CO2 Emissions

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Over half of the electricity in Nebraska is produced by coal-fired plants. However, two-thirds of the electricity generated by Monolith Materials’ proposed $50 million manufacturing headquarters will be from carbon-free sources such as nuclear, hydro and wind. The Lincoln plant is expected to be in operation by 2020 or 2021. It is expected to bring 200 jobs to the plant and potentially 600 spinoff jobs.

Monolith Materials have developed a way to produce carbon black using natural gas rather than crude oil or coal tar, which reduces emissions by around 90% and produces clean-burning hydrogen in the process.

This hydrogen by-product will be used at the Sheldon Station plant, which will be the first large-scale power plant in the US to produce electricity using this method. Monolith Materials have partnered with the Nebraska Public Power District (NPPD) and have decided to reduce emissions by replacing a coal-fired boiler with a hydrogen-fired boiler. Although the hydrogen is not considered renewable energy, as it is derived from natural gas, it is estimated that it will cut Nebraska’s CO2 emissions by around a million tons per year.

The Silicon Valley start-up chose Nebraska as the best location for the plant because of its cheap electric rates, public power partnerships, infrastructure and skilled workforce. NPPD’s Generation Strategy Manager wants to replace more coal with natural gas and make Nebraska “the carbon black capitol of the world.”

Over the past five years, Nebraska has grown by over 52,000 manufacturing jobs. Chief Commercial Officer, Rob Hanson described the company as, “a California company with a development division in Nebraska,” but that “In two years, we’ll be a Nebraska company with R&D in California.”

Energy companies like Monolith Materials are continually finding cleaner ways to produce electricity. Please contact one of Swanson Reed’s offices to find out whether your company is eligible for the federal or state R&D tax credit.

Colorado Emerging as Top Leader in Renewable Energy

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Since the early 2000’s, when technological advancements allowed wind to be used as a viable source of energy, the United States has emerged as one of the leading nations in renewable energy research and job creation. According to the American Wind Energy Association, 769,000 renewable energy jobs have been created in the United States, designating 88,000 jobs in the renewable wind sector alone. In an effort to remain competitive among other renewable sources of energy and fossil fuels, significant investments in wind energy are now being made all across the United States. So who is leading the charge in wind research and development? The answer may come as a surprise to some – it’s Colorado.

But Colorado’s emergence as a leader in renewable wind energy really shouldn’t come as a surprise. Since passing the nation’s first voter-led Renewable Energy Standard in 2004 – requiring electrical utilities to obtain a percentage of it’s power from renewable sources – Colorado’s investments in wind, solar and other renewable energy’s have ignited several projects all across the state. Now looking to grow it’s already diverse renewable energy portfolio, Colorado aims to tackle the wind energy’s most pressing technological challenges associated with cost and manufacturing while simultaneously creating an abundance of jobs. Until now, Colorado’s presence as an emerging leader has gone largely unnoticed. However with its latest $1.6 million investment in the National Wind Technology Center, Colorado has now solidified it’s presence on the wind industry map and has distinguished itself as a top leader.

The total $1.6 million investment coming from the state of Colorado in partnership with the National Renewable Energy Laboratory, a member of the Institute for Advanced Composites Manufacturing Innovation, will be used to shape the future of composite manufacturing. Perhaps you recall the announcement of the creation of the IACMI, a partnership consisting of 122 corporations, nonprofits, universities, and the Department of Energy, in an effort from the Obama Administration to bridge the gap between industrial and advanced research institutions. The objective is to create cutting edge manufacturing technologies of advanced polymer composites.

In this joint effort to further advance the wind renewable energy sector, the $1.6 million investment will go towards “Structural upgrades, like insulation and exhaust vents, along with manufacturing improvements including the installation of a gantry crane to move and support large objects,” according to project engineers. The investment was also made in an effort to turn the National Wind Technology Center into an innovation catalyst center while attracting the state’s top renewable energy innovators and leaders to simultaneously support the work force.

The project also calls for the completion of a Wind Blade Component Manufacturing Facility, which will serve as an R&D site for the renewable energy industry. The specific R&D projects are likely to include automated production and 3D printing to produce a more durable, inexpensive wind blade.

For a more in-depth look at how Federal R&D Tax Credits have helped to spur developments in Colorado, we at Swanson Reed encourage you to speak with our highly specialized team consisting of Certified Public Accountants, Engineers or PhD qualified chemists, who manage all facets of the R&D tax credit claim process.

For an unbiased guide to everything you need to know to get started with Solar: The National Council for Solar Growth

Are you and your business eligible for an R&D Credit? Find out here.