You know it is winter when the taxpayer subsidised solar cell maker shuts down.
“The market conditions are difficult, as we said in our release,” O’Connor said, “due to seasonality issues in the industry with respect to what’s happening in Germany and in general due to both weather and incentives.” [emph ours] …
The breakdown of incentives offered to SpectraWatt:
• Empire Zone refunds, $3,375,469
• Empire State Development grant, $3 million
• State Energy Research and Development Authority grant, $1.5 million
• Central Hudson Gas & Electric Corp. grant, $78,300
• Dutchess County Workforce Investment Board grant, $50,000
• Dutchess County Industrial Development Agency, up to $100,000. Michael Tomkovitch, chairman of the agency, said this was for training and that a second round was approved a month ago.
Under the state’s Empire Zone program, which SpectraWatt qualified for only months before the program’s demise, the company can collect benefits by certifying on tax returns it has met investment and employment goals.
These could total:
• Investment tax credit, $3.3 million
• Employment incentive tax credit, $5.94 million
• Wage tax credit, $75,469
But some of these credits may be unavailable because of the layoffs.
A sales-tax exemption on items used in setting up shop was valued at $420,000.
There’s an upside:
Meanwhile, state officials said Wednesday that only some of the millions in public monies for which SpectraWatt is eligible have actually been given.
The Coalition’s own Annual Energy Statement for 2010 concedes that by the year 2020, nearly one third of the average domestic electricity bill will consist of green energy charges imposed by law (£160 out of £512, or 31 per cent). Business will be hit even harder, with environmental charges for the average medium-sized non-domestic user accounting for £404,000 out of £1.224 million, or 33 per cent.