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Institute for Energy Economics and Financial Analysis provides best practices for counties negotiating renewable-energy agreements

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    Institute for Energy Economics and Financial Analysis provides best practices for counties negotiating renewable-energy agreements

    The Institute for Energy Economics and Financial Analysis recently published a report titled, “Negotiating Responsible Tax Breaks on Renewable Energy Deals: A Guide to Community Due Diligence.” The report includes general guidance on best community practices for negotiating renewable-energy agreements and salient detail from recent agreements between private-sector companies and local governments. Three counties are showcased in the report: Wharton County, Texas; Franklin County, N.Y. and Raleigh County W.Va.

    According to the report, wind and utility-scale solar power generation is the fastest-growing sector of the U.S. electricity market, and development deals with communities occur almost daily across the country. Such agreements typically include property-tax abatements that encourage developers to build in a particular jurisdiction to create jobs and other beneficial effects. This report provides county officials tools and best practices in negotiating tax breaks on renewable energy deals.

    Counties often use financial incentives to promote economic development and meet energy goals. To ensure the delivery of essential services, support job growth and maintain a healthy revenue base, counties invest in community and economic development activities in several ways, including tax incentives. NACo will continue to provide county officials resources to aid county efforts to bolster economic development and encourage environmental sustainability.

    The Institute for Energy Economics and Financial Analysis recently published a report titled, “Negotiati
    2020-12-22
    Blog
    2020-12-22
The Institute for Energy Economics and Financial Analysis recently published a report that includes general guidance on best community practices for negotiating renewable-energy agreements The report showcases three counties in the report: Wharton County, Texas; Franklin County, N.Y. and Raleigh County W.Va. Counties often use tax abatements to promote economic development and meet energy goals

The Institute for Energy Economics and Financial Analysis recently published a report titled, “Negotiating Responsible Tax Breaks on Renewable Energy Deals: A Guide to Community Due Diligence.” The report includes general guidance on best community practices for negotiating renewable-energy agreements and salient detail from recent agreements between private-sector companies and local governments. Three counties are showcased in the report: Wharton County, Texas; Franklin County, N.Y. and Raleigh County W.Va.

According to the report, wind and utility-scale solar power generation is the fastest-growing sector of the U.S. electricity market, and development deals with communities occur almost daily across the country. Such agreements typically include property-tax abatements that encourage developers to build in a particular jurisdiction to create jobs and other beneficial effects. This report provides county officials tools and best practices in negotiating tax breaks on renewable energy deals.

Counties often use financial incentives to promote economic development and meet energy goals. To ensure the delivery of essential services, support job growth and maintain a healthy revenue base, counties invest in community and economic development activities in several ways, including tax incentives. NACo will continue to provide county officials resources to aid county efforts to bolster economic development and encourage environmental sustainability.

About Zach George (Full Bio)

Legislative Assistant

Zach George joined NACo in March 2016 and serves as a Legislative Assistant. He is responsible for writing and editing blog articles, conducting legislative research and providing legislative support for Environment, Energy and Land Use; Transportation; Telecommunications and Technology; and the Gulf Coast Counties and Parishes Coalition.

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