Solar companies flock to a Texas tax break with questionable payback
https://www.houstonchronicle.com/news/politics/texas/article/Solar-companies-flock-to-a-Texas-tax-break-with-13706487.phpMarch 21, 2019
Although barely 25 miles from one of the country’s fastest growing cities, much of the land hugging this Austin bedroom community remains empty blackland prairie. Small farmhouses dot the dark soil fields that unroll into the horizon. Soon, though, if all goes according to plan, a Canadian company will begin installing a vast array of solar panels across 1,000 acres just a few miles outside of town.
But only under one condition: that it receives a multi-million-dollar tax break from the local school district.
Property taxes represent the biggest operating expense for solar projects. So without the giant reduction of its tax bill, Recurrent Energy warned, its executives would be forced “to look to maximize their investment by building in California.â€
In exchange for the tax break, the company has promised to create exactly one full-time job.
The merits of Texas’s so-called Chapter 313 tax breaks have been debated ever since the program was created two decades ago......