Daily News | N.J. legislature approves tax measure that offshore wind developers say is critical to success
New Jersey lawmakers narrowly approved a controversial bill Friday that would allow offshore wind developers to take advantage of federal tax credits that an existing state law prohibits them from accessing.
deaths, despite scientists and the National Oceanic and Atmospheric Administration saying there is no link. New Jersey officials, who had hoped to make the state a manufacturing and supply chain hub for offshore wind in the Mid-Atlantic, feared other states that allowed the tax credit were luring manufacturers away. The state has invested about $1 billion in offshore wind, including a facility
energy to power 500,000 homes annually. Orsted is expected to begin producing power by late 2024 or early 2025., a joint venture between Shell New Energies and EDF-RE Offshore Development, in another project approved by the state. That 1,500-megawatt wind farm off Atlantic City would power 700,000 homes.Offshore wind developers say they need the capital freed by the tax credits to construct buildings, take loans, and hire more people as planned to make parts.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Supreme Court Rules in Favor of Designer Opposed to Making Same-Sex Wedding WebsitesThe Supreme Court ruled 6-3 in favor of Christian designer Lorie Smith from Colorado, who did not want to design websites for same-sex marriages. See potential bias and similarities in coverage from: CBSNews, thehill, and FoxNews:
Read more »
NBA free agency live updates: All the news, rumors and trades as free agency opens FridayNBA free agency opens at 6 p.m. ET Friday, beginning one of the most unpredictable times on the sports calendar. Here's everything you need to know.
Read more »
Biggest Movers: LTC, BCH Surge 20% Higher on Friday – Market Updates Bitcoin NewsLitecoin surged by as much as 20% in today’s session, as bulls took the token to its highest level since April.
Read more »
Supreme Court ends affirmative action in college admissions; Travis Scott avoids charges; NFL suspends four players | Hot off the Wire podcast🎧 Get the latest national, sports and entertainment news on our daily podcast.
Read more »
Supreme Court ends affirmative action in college admissions; Travis Scott avoids charges; NFL suspends four players | Hot off the Wire podcast🎧 Get the latest national, sports and entertainment news on our daily podcast.
Read more »