"Community wind" refers to wind power development in which community members share in the profits. They can be stand-alone, or in combination with larger, non-community wind projects, and they can be initiated by communities or by outside investors (such as wind energy companies).
Private investors (which may be wind energy companies) invest in the projects to receive tax credits and accelerated depreciation, as well as profits from energy generation. Communities, which are not-for-profit, cannot take advantage of the tax credits and accelerated depreciation, so they need private investors who receive these benefits to make the projects financially viable. Any project would also have to get the legislative body to endorse it to qualify for incentives. There are minimal purchase requirements for state govt and the standard offer from community energy sources and a 50% bonus in the state renewable portfolio standard to drive the market. These could be initiated by community members or developers but 51% of the economic return at least has to land "locally". The public hearing is March 31 at 1 PM (scheduled last of 7 bills) at Utilities & Energy Committee (Room 211, Cross Office Building). |