Wyoming to House America’s Largest Wind Farm
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.