Buffett Utility Looks to Beat Tax Expiration

NV Energy, Berkshire Hathaway’s utility company in Nevada, has chosen the double down on its efforts so that it can boost its generation of renewable energy sources as a way to ensure that its projects will continue to qualify for the offered tax incentives.

Just this week they announced that they are looking for bids for 200 MW of renewable projects within about a month’s time, and this follows an order from the Nevada Public Utilities Commission that urgently requested the company to move faster because it was not certain about the incentives such as investment tax credits that will be reduced by the end of 2016. The company had originally requested bids for just half of this capacity this year and they planned to ask for another 100 MW next year.

In order to comply with the requirements of Nevada for utilities that must rely upon 25% renewable energy resources, NV Energy has 1 GW of capacity from hydro, solar and geothermal facilities as well as wind facilities and methane, biomass and heat waste recovery projects.

Abengoa, a Spanish company, last week said that it was not capable of moving forward with the California solar project without more certainty regarding the investment tax credit.

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