Oklahoma Wind Coalition Director Mark Yates says despite some rough times in this year’s legislative session as legislators targeted the wind industry with more negative efforts, all in all, the session turned out fine for wind farm operators.
It’s what he told Ron Hays at the Oklahoma Farm Report, explaining it was “a good learning experience for lawmakers who he hopes now better understands the value the wind industry brings to Oklahomans across the state.”
Yates still maintains that had Senate Bill 888 been passed it would have been detrimental to Oklahoma’s business reputation. The bill called for elimination of the refundability of tax credits to existing wind projects.
“To go back and retroactively do away with the refundability of those tax credits would have had a detrimental impact on the wind industry and really Oklahoma’s business reputation,” Yates said, acknowledging the State Senate’s intervention in killing the bill. “Kudos to the Senate – I think they got it right. They made the right decision for Oklahoma and its business reputation to honor its word to investors. It’s very important that the state can be trusted and its word honored.”
In the end, SB 888 was killed in the State Senate. Yates argued then and now that it would have been reneging on a deal with wind investors who relied on the funds to remain solvent.
“In Oklahoma,” he said, “with the abundance of natural gas and an infinite supply of wind, we’re perfectly positioned for energy independence in the future.”
Yates maintains the wind industry is already contributing more than its fair share to the state including $74 million in ad valorem taxes paid to 26 counties as well as $48 million in annual lease payments to landowners.