Global investment in wind and solar doubles that in gas, nuclear, and coal

first_img FacebookTwitterLinkedInEmailPrint分享Wall Street Journal:Global spending on renewable energy is outpacing investment in electricity from coal, natural gas and nuclear power plants, driven by falling costs of producing wind and solar power.More than half of the power-generating capacity added around the world in recent years has been in renewable sources such as wind and solar, according to the International Energy Agency.In 2016, the latest year for which data is available, about $297 billion was spent on renewables—more than twice the $143 billion spent on new nuclear, coal, gas and fuel oil power plants, according to the IEA. The Paris-based organization projects renewables will make up 56% of net generating capacity added through 2025.Once supported overwhelmingly by cash-back incentives, tax credits and other government incentives, wind- and solar-generation costs have fallen consistently for a decade, making renewable-power investment more competitive.Renewable costs have fallen so far in the past few years that “wind and solar now represent the lowest-cost option for generating electricity,” said Francis O’Sullivan, research director of the Massachusetts Institute of Technology’s Energy Initiative.Sustained government support in Europe and other developed economies spurred the development of renewable energy. But costs have fallen for other reasons. China invested heavily in a domestic solar-manufacturing industry, creating a glut of inexpensive solar panels. Innovation helped manufacturers build longer wind-turbine blades, creating machines able to generate substantially more power at a lower cost.Renewable-energy plants also face fewer challenges than traditional power plants. Nuclear-power plants have been troubled by mostly technical delays, while plants burning fossil fuels face regulatory uncertainties due to concerns about climate change. And pension funds, seeking long-term stable returns, have invested heavily in wind farms and solar parks, allowing developers to get cheaper financing.“It is just easier to get renewables built,” said Tony Clark, a former member of the Federal Energy Regulatory Commission. “There is that much less opposition to it.”More ($): Global Investment in Wind and Solar Energy Is Outshining Fossil Fuels Global investment in wind and solar doubles that in gas, nuclear, and coallast_img read more

Are Fannie and Freddie exempt from mortgage recording taxes?

first_img 5SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr by: Henry MeierMore and more federal courts are answering this question with a resounding :“You Bet they are.”The latest court to rule on this issue was the West Coast’s Ninth Circuit. In a December 30th Decision the Circuit held that Fannie Mae and Freddie Mac were exempt from paying mortgage transfer taxes imposed by Spokane Washington (City of Spokane v. Fed. Nat. Mortgage Ass’n, No. 13-35655, 2014 WL 7384311 (9th Cir. Dec. 30, 2014)).The issue involved in this and similar cases around the country relates to mortgage transfer or recording taxes imposed by localities when mortgages are recorded. As New York’s Courts have explained these transfer taxes are not property taxes but taxes imposed by localities in return for the right to record mortgages with county clerks.When you consider how many mortgages Fannie and Freddie buy exempting them from having to pay for mortgage recordation is a big savings. An increasingly long list of Federal Circuit Courts-the ones just below the Supreme Court-have looked at the federal statutes exempting the GSE’s from paying certain state level taxes and concluded that Congress intended to exempt them from transfer taxes. According to the Ninth Circuit these cases include:     Town of Johnston v. Fed. Hous. Fin. Agency, 765 F.3d 80 (1st Cir.2014) ; Bd. of Comm’rs v. Fed. Hous. Fin. Agency, 758 F.3d 706 (6th Cir.2014)l. Cnty. v. Fed. Hous. Fin. Agency, 747 F.3d 215 (3d Cir.2014) (same); Montgomery Cnty. v. Fed. Nat’l Mortg. Ass’n, 740 F.3d 914 (4th Cir.2014) ; DeKalb Cnty. v. Fed. Hous. Fin. Agency, 741 F.3d 795 (7th Cir.2013) (same); Bd. of Cnty. Comm’rs v. Fed. Hous. Fin. Agency, 754 F.3d 1025 (D.C.Cir.2014) (rejecting same statutory arguments); Hennepin Cnty. v. Fed. Nat’l Mortg. Ass’n, 742 F.3d 818 (8th Cir.2014); Vadnais v. Fed. Nat’l Mortg., 754 F.3d 524 (8th Cir.2014). continue reading »last_img read more

NPFL: Akande Counting His Blessings as Rivers Utd, Sunshine Clash

first_imgGoalkeeper Abiodun Akande was originally Rivers United’s third choice goalkeeper behind Rotimi Sunday and Femi Thomas, but the former junior international has steadily wormed his way into the heart of the manager, Stanley Eguma, with brilliant outings, in recent matches.Akande’s performance earned him man-of-the-match award against ABS as he frustrated efforts made by the home side to put the ball behind him to confirm his progress.“I had a good game to emerge man-of-the-match at ABS. However, I am determined to be at my best in any match I am fielded. I thank God for my progress at Rivers United,” he stated. As Eguma prepares for today’s Match-day 30 clash against Sunshine Stars, Akande could just get the nod to continue from where he stopped at ABS.“There is nothing like former team to me as I don’t want to concede against any team,” he said.Since exiting the continent, United defeated MFM at home and a point on the road at ABS to move to 13thposition on the log. The Eguma tutored side is unbeaten in three matches.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more