At present, one of the biggest obstacles for China's wind turbines entering the US market is the lack of trust of US tax investors in the quality of domestically produced wind turbines. In view of the importance of tax investors in U.S. wind power investment, industry insiders suggested that in addition to supplying the US with certified third-party operational data for wind turbines, it is also possible to eliminate doubts of U.S. tax investors by guaranteeing electricity generation. .
According to the US Restoration and Reinvestment Act of 2009, the US government introduced the concept of tax investors on the issue of clean energy investment in order to encourage domestic taxation and employment. In general, companies that pay a certain amount of taxes in the United States can be tax investors. However, due to the large amount of investment in wind power, there are a limited number of tax investors who qualify for wind power development. It is understood that there are currently only about 10 tax investors engaged in wind power development in the United States, mainly banks and insurance companies.
The above bill stipulates that when investing in clean energy projects, tax investors can obtain 30% of the government's tax return within a certain period of time. This return is divided into two forms: ITC (Enterprise Energy Investment Tax Credit) and PTC (Renewable Energy Product Tax Credit). The former refers to solar energy, fuel cell and wind energy projects invested by tax investors and put into operation before the end of 2016. After the completion of the project, the government will provide a 30% tax credit. The latter is for new energy projects such as wind power and geothermal energy that were put into use before 2013. A 2.2-cent tax credit per unit of electricity can be obtained after power generation, which lasts for 10 years.
Generally speaking, the percentage of investment made by tax investors in the development of wind farms is between 20% and 30%. This part of the capital contribution does not need to be returned by the developers. The tax investors will use ITC or PTC in future project operations. Form to get a one-time or consistent 10-year stable return. Therefore, the introduction of wind farm development projects for tax investors is more economically competitive. It is precisely because of the above reasons that the development of wind power in the United States and the tax investors are basically the key role that cannot be passed.
According to U.S. industry statistics, taxpayers who choose PTC return will receive 15% more than ITC. Therefore, as tax investors, they do not care about the price of the wind turbine, because the cost of belonging to the developer is something that developers and lending banks need to consider. Tax investors care more about whether China's wind turbines can continue to generate electricity on the grid within 10 years, because it is related to whether they can obtain stable returns from PTC.
Due to the short operating time of domestically produced fans and the lack of verification of third-party operational data, US tax investors generally lacked trust in wind turbines in China. Tax investors often entrust wind power developers to negotiate with China's wind turbine companies and require the latter to guarantee a certain amount of power generation within a fixed number of years. For various reasons, China’s wind turbine companies are often reluctant to make such guarantees. This stalemate has become one of the biggest obstacles for China’s wind turbines entering the US market.
How can domestic wind turbine companies solve the above problems? According to Chen Hang, Chairman of U.S. Meadul Energy, China should first publish data on the number of hours of wind turbine power generation, the capacity of the grid, and the number of wind turbine hours available to the developers, and the quality of wind turbines as soon as possible. Third party independent agencies carry out certification; secondly, domestic wind turbine companies can take out some funds, set up a guarantee company, or negotiate with domestic insurance companies, involve related insurance types, and guarantee or guarantee the quality and stability of exported wind turbines. Tax investor doubts.
According to the latest statistics from the China Wind Energy Association, China's newly installed wind power capacity in 2010 was 18,927.99 MW, an increase of 37.1% year-on-year. In sharp contrast, the total number of wind turbine exports in China was only 13 in the same year, with a total installed capacity of only 15.5 megawatts. It can be seen that the domestic fan companies chanting “going out†still belong to the stage of “thunder and rainâ€, but they want to gain a foothold in the US with a higher threshold market. Domestic fan companies still need to pay more wisdom and patience.
According to the US Restoration and Reinvestment Act of 2009, the US government introduced the concept of tax investors on the issue of clean energy investment in order to encourage domestic taxation and employment. In general, companies that pay a certain amount of taxes in the United States can be tax investors. However, due to the large amount of investment in wind power, there are a limited number of tax investors who qualify for wind power development. It is understood that there are currently only about 10 tax investors engaged in wind power development in the United States, mainly banks and insurance companies.
The above bill stipulates that when investing in clean energy projects, tax investors can obtain 30% of the government's tax return within a certain period of time. This return is divided into two forms: ITC (Enterprise Energy Investment Tax Credit) and PTC (Renewable Energy Product Tax Credit). The former refers to solar energy, fuel cell and wind energy projects invested by tax investors and put into operation before the end of 2016. After the completion of the project, the government will provide a 30% tax credit. The latter is for new energy projects such as wind power and geothermal energy that were put into use before 2013. A 2.2-cent tax credit per unit of electricity can be obtained after power generation, which lasts for 10 years.
Generally speaking, the percentage of investment made by tax investors in the development of wind farms is between 20% and 30%. This part of the capital contribution does not need to be returned by the developers. The tax investors will use ITC or PTC in future project operations. Form to get a one-time or consistent 10-year stable return. Therefore, the introduction of wind farm development projects for tax investors is more economically competitive. It is precisely because of the above reasons that the development of wind power in the United States and the tax investors are basically the key role that cannot be passed.
According to U.S. industry statistics, taxpayers who choose PTC return will receive 15% more than ITC. Therefore, as tax investors, they do not care about the price of the wind turbine, because the cost of belonging to the developer is something that developers and lending banks need to consider. Tax investors care more about whether China's wind turbines can continue to generate electricity on the grid within 10 years, because it is related to whether they can obtain stable returns from PTC.
Due to the short operating time of domestically produced fans and the lack of verification of third-party operational data, US tax investors generally lacked trust in wind turbines in China. Tax investors often entrust wind power developers to negotiate with China's wind turbine companies and require the latter to guarantee a certain amount of power generation within a fixed number of years. For various reasons, China’s wind turbine companies are often reluctant to make such guarantees. This stalemate has become one of the biggest obstacles for China’s wind turbines entering the US market.
How can domestic wind turbine companies solve the above problems? According to Chen Hang, Chairman of U.S. Meadul Energy, China should first publish data on the number of hours of wind turbine power generation, the capacity of the grid, and the number of wind turbine hours available to the developers, and the quality of wind turbines as soon as possible. Third party independent agencies carry out certification; secondly, domestic wind turbine companies can take out some funds, set up a guarantee company, or negotiate with domestic insurance companies, involve related insurance types, and guarantee or guarantee the quality and stability of exported wind turbines. Tax investor doubts.
According to the latest statistics from the China Wind Energy Association, China's newly installed wind power capacity in 2010 was 18,927.99 MW, an increase of 37.1% year-on-year. In sharp contrast, the total number of wind turbine exports in China was only 13 in the same year, with a total installed capacity of only 15.5 megawatts. It can be seen that the domestic fan companies chanting “going out†still belong to the stage of “thunder and rainâ€, but they want to gain a foothold in the US with a higher threshold market. Domestic fan companies still need to pay more wisdom and patience.
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