Northwest Renewable News

Your Daily Source for Renewable Energy News in Oregon, Washington, Idaho, Montana & Northern California

Oregon solar operations get $87M in tax credits January 13, 2010

Filed under: Manufacturing,Oregon,Solar — nwrenewablenews @ 12:40 am
Tags: , ,

Three companies have gotten a total of $87 million in tax credits to boost clean-energy technology in Oregon.

They include the SolarWorld wafer plant in Hillsboro and a German company, Centrosolar, reported to be interested in a photovoltaic operation in Gresham.

The SolarWorld plant got the largest amount of credits — $82 million — for an expansion.

Spokesman Ben Santarris called the credits a welcome addition as the company struggles to compete with panel manufacturers that get substantial government backing in countries such as China.

He said SolarWorld, also based in Germany, is hiring eight to 10 workers a week for the Hillsboro plant. The company plans to invest $500 million, have 1,000 employees and be able to produce solar panels with 500 megawatts of generation capacity.

A representative of Centrosolar told The Oregonian newspaper an announcement was expected Monday about the company’s plans. It got $4.7 million in credits.

The Oregon Department of Energy has approved a $6.2 million loan in October for CentroSolar America to finance construction of a 100-megawatt-capacity photovoltaic manufacturing facility in Gresham, although the money has not been disbursed.

Pacific Metal Fab got $304,000 in credits for producing parts for solar hot water systems in Eugene.

The Obama administration announced a total of $2.3 billion in tax credits Friday.

The credits are part of the federal stimulus program. The amounts are not cash grants, but would offset the companies’ tax liabilities.

Ashland Daily Tidings – http://www.dailytidings.com/apps/pbcs.dll/article?AID=/20100112/LIFE/1120305/-1/NEWSMAP

Advertisements
 

One Response to “Oregon solar operations get $87M in tax credits”

  1. TK Says:

    Not quite the same as cash, but offsetting the tax liabilitys is a start. Better than some states who have no such incentives.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s