Trump admin slaps solar, wind operators with retroactive rent bills on public land while slashing oil and gas royalties

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The Trump administration has ended a two-year rent holiday for solar and wind projects operating on federal lands, handing them whopping retroactive bills at a time the industry is struggling with the fallout of the coronavirus outbreak, according to company officials.

The move represents a multi-million-dollar hit to an industry that has already seen installation projects canceled or delayed by the global health crisis, which has cut investment and dimmed the demand outlook for power.

It also clashes with broader government efforts in the United States to shield companies from the worst of the economic turmoil through federal loans, waived fees, tax breaks and trimmed regulatory enforcement.

The Interior Department declined repeated requests to comment on the outcome of that review, or the issuance of the retroactive rent bills.

The rent bills landed around the same time the Bureau of Land Management notified oil and gas drillers on federal lands of the procedures they would need to follow to get relief from paying royalties amid an oil market slump.

Reuters:

Article submitted by, Great Gazoo.