Representative Pine Addresses HB 2121 Tax Credits

The purpose of this bill is to promote government use of renewable energy technologies and ensure that such projects are cost effective by: • Prohibiting government agencies from contracting with private energy providers that claim renewable energy technologies tax credit; • Authorizing issuance of general obligation bonds to purchase renewable energy systems for state facilities. Version HD1 of this bill: • Deletes sum of general obligation bonds that Director of Finance is authorized to issue; • Changes effective date to Jan. 1, 2013; • Clarifies that purpose of this measure is to ensure cost-effectiveness of renewable energy technology projects. DBEDT points out that power purchase agreements provide stable utility costs that do not fluctuate with rising oil prices, since rates are fixed over lifetime of contract. If State rather than private sector owns renewable energy systems, State would be responsible for repairs after warranty period expires.

Contact:  Excerpt from Capitol TV

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