renewable energy indusry

TREASURY INSPECTION FINDS HALF OF BIG WIND AND SOLAR COMPANIES EXAMINED ARE ILLEGALLY DOUBLE-DIPPING TAXPAYER FUNDS

 

By Miriam Raftery

More troubling issues are coming to light regarding renewable energy developers and their projects. The Treasury Inspector General for Tax Administration inspected records for 16 big renewable energy companies--and found that half had been double dipping. 

The IRS says that many more wind and solar development owners may be taking money they are not entitled to, Rewire Magazine reports.   Projects subsidized by the federal stimulus program are not eligible to also pocket wind power tax credits.  The IRS says it doesn’t have way to check – but believes that over half the stimulus grant recipients should have audits to take a closer look.