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Depreciation of Aircraft

Description: Report presenting an examination of the concept that aircraft are essentially fragile and deteriorate rapidly when in service, which the author considers to be a misunderstanding due to the intense conditions occurring during war. Some examples of commercial airplane lines that have been running for several years and some potential deterioration costs that must be considered are provided.
Date: December 1922
Creator: Warner, Edward P.
Partner: UNT Libraries Government Documents Department

Section 179 and Bonus Depreciation Expensing Allowances: Current Law, Legislative Proposals in the 112th Congress, and Economic Effects

Description: This report examines the current status, legislative history, and economic effects of the two expensing allowances (Section 179 and Bonus Depreciation Allowance) and also discusses initiatives in the 112th Congress to modify them. Expensing is the most accelerated form of depreciation for tax purposes. Section 179 of the Internal Revenue Code (IRC) allows a taxpayer to expense up to $125,000 of the total cost of new and used qualified depreciable assets it buys and places in service in 2012, within certain limits. In addition, Section 168(k) generally allows taxpayers to expense half the cost of qualified assets bought and placed in service in 2012.
Date: August 14, 2012
Creator: Guenther, Gary
Partner: UNT Libraries Government Documents Department

Effects of a shortened depreciation schedule on the investment costs for combined heat and power

Description: We investigate and compare several generic depreciation methods to assess the effectiveness of possible policy measures with respect to the depreciation schedules for investments in combined heat and power plants in the United States. We assess the different depreciation methods for CHP projects of various sizes (ranging from 1 MW to 100 MW). We evaluate the impact of different depreciation schedules on the tax shield, and the resulting tax savings to potential investors. We show that a shorter depreciation cycle could have a substantial impact on the cost of producing power, making cogeneration more attractive. The savings amount to approximately 6-7 percent of capital and fixed operation and maintenance costs, when changing from the current system to a 7 year depreciation scheme with switchover from declining balance to straight line depreciation. Suggestions for further research to improve the analysis are given.
Date: November 15, 2001
Creator: Kranz, Nicole & Worrell, Ernst
Partner: UNT Libraries Government Documents Department

Basic Materials on Liberalized Depreciation Allowances Announced on January 11, 1971

Description: This report discusses the announcement on January 11, 1971, of the liberalization and deprecation of tax allowances for machinery and equipment and provides a selection of publications from the news media and government sources related to the announcement.
Date: January 25, 1971
Creator: Kohnen, Harold A.
Partner: UNT Libraries Government Documents Department

Section 179 and Bonus Depreciation Expensing Allowances: Current Law, Legislative Proposals in the 112th Congress, and Economic Effects

Description: This report examines the current status, legislative history, and economic effects of the two expensing allowances (Section 179 and Bonus Depreciation Allowance) and also discusses initiatives in the 112th Congress to modify them. Expensing is the most accelerated form of depreciation for tax purposes. Section 179 of the Internal Revenue Code (IRC) allows a taxpayer to expense up to $125,000 of the total cost of new and used qualified depreciable assets it buys and places in service in 2012, within certain limits. In addition, Section 168(k) generally allows taxpayers to expense half the cost of qualified assets bought and placed in service in 2012.
Date: September 10, 2012
Creator: Guenther, Gary
Partner: UNT Libraries Government Documents Department

Depreciation shortfall and real financial performance in the steel industry, 1965-1974

Description: The purpose of this study was to revise the industry's reported depreciation allowances to a current replacement cost basis; to measure the industry's real profits and profitability; to assess the relationships between depreciation shortfall and real financial performance; and to evaluate the implications of depreciation shortfall for the steel industry.
Date: May 1976
Creator: Harlow, Forrest W.
Partner: UNT Libraries

The Revised Stress-Related Growth Scale: Improving the Measurement of Posttraumatic Growth

Description: This study evaluated a revised version of the Stress-Related Growth Scale (SRGS-R). The SRGS-R has two major differences from the Stress-Related Growth Scale (SRGS). It uses neutral wording of items instead of the original positively worded items, and it uses positive and negative scaling choices. This study included participants (N = 764) recruited through Amazon MTurk. There were three versions of the SRGS-R tested - the SRGS with neutral wording of items only (SRGS-R-N), the SRGS with positive and negative scaling only (SRGS-R-S), and the SRGS-R, with both changes. We randomly assigned participants to complete one of four PTG measures - the SRGS-R-N, SRGS-R-S, SRGS-R, or the Posttraumatic Growth Inventory (PTGI). The PTGI elicited the largest levels of reported PTG, while the SRGS-R elicited the smallest levels. The two modified versions displayed scores between the SRGS-R and the PTGI in the small and moderate growth groups. In the current study the SRGS-R was negatively related to PTSD symptoms, depression, anxiety (negative, but not statistically significant), global distress (negative, but not statistically significant), and avoidance-focused coping (negative, but not statistically significant), and positively related to positive well-being, quality of life, problem-focused coping, and emotion-focused coping. In comparison, the PTGI was unrelated to depression, anxiety, and global distress, and positively related to PTSD symptoms, positive well-being, quality of life, and all three coping styles. These findings provide further evidence that the SRGS-R is an improvement over the PTGI in measuring actual growth, while limiting illusory growth. We found the combination of these changes yields the greatest improvements in measurement. By improving the measurement of PTG, we can reduce the variation in reported PTG following traumatic events found throughout the literature. This will allow researchers and clinicians to better identify which factors contribute to growth following traumatic events, and aid them in designing ...
Date: May 2018
Creator: Bedford, Lee
Partner: UNT Libraries


Description: This study describes the impact of lighting management systems that dynamically control lights in accordance with the needs of occupants. Various control strategies are described: scheduling, tuning, lumen depreciation, and daylighting. From initial experimental results, the energy savings provided by each of the above strategies are estimated to be 26, 12, 14, and 15%, respectively. Based upon a cost of $0.05-0.10 per kWh for electric energy and a 2-, 3-, or 4-yr payback, target costs for a simple and a sophisticated lighting management system are found to be $0.24 and 1.89 per ft{sup 2}, respectively, for a cost-effective investment. A growth model, based upon an extrapolation of the increase in building stock since 1975, indicates that the commercial and industrial (C and I) building stock will grow from 40 x 10{sup 9} ft{sup 2} in 1980 to about 67 x 10{sup 9} ft{sup 2} by the year 2000. Even with the use of more efficient lighting components, the energy required for this additional C and I stock will be 307 x 10{sup 9} kWh, an increase of only 13 x 10{sup 9} kWh above current use. The specified information is used to analyze the economic impacts that using these systems will have on the lighting industry, end users, utility companies, and the nation's economy. A $1 - 4 x 10{sup 9} annual lighting control industry can be generated, creating many jobs. The estimated return on investment (ROI) for controls for end users would be between 19 and 38%. Utilities will be able to make smaller additions to capacity and invest less capital at 7-10% ROI. Finally, the annual energy savings, up to $3.4 x 10{sup 9} for end users and about $5 x 10{sup 9} for utilities, representing unneeded generating capacity, will be available to capitalize other areas of the ...
Date: September 1, 1982
Creator: Verderber, R.R. & Rubinstein, F.
Partner: UNT Libraries Government Documents Department

Comparison of Tax Incentives of Domestic Manufacturing: 108th Congress

Description: The enacted provision of this legislation (H.R. 4520), following the passage of the Senate’s version (then S. 1637) and the House bill (H.R. 4520) followed the Senate version, which allowed a deduction and would cover unincorporated firms as well as corporations. However, the proposal contained the broader definition of manufacturing in the House bill which included oil and gas extraction, utilities, construction, and electricity. This report discusses the provisions in these two versions of the subsidy as well as some of the issues surrounding alternative methods of providing a manufacturing subsidy.
Date: January 25, 2005
Creator: Gravelle, Jane G.
Partner: UNT Libraries Government Documents Department

Comparison of Tax Incentives of Domestic Manufacturing in Current Legislative Proposals

Description: This report presents two approaches that have quite different implications for tax administration and Compliance. First, additional domestic investment would have both a direct tax benefit effect, and an indirect effect through increasing the ratio of domestic to world production. Secondly, if one considers the other provisions of H.R. 2896 and S. 1637, these provisions provide benefits (in some cases quite large benefits) to investment overseas that could more than offset any domestic incentive.
Date: November 19, 2003
Creator: Gravelle, Jane G.
Partner: UNT Libraries Government Documents Department

Preliminary Evaluation of the Impact of the Section 1603 Treasury Grant Program on Renewable Energy Deployment in 2009

Description: Federal support for renewable energy deployment in the United States has traditionally been delivered primarily through tax benefits, including the production tax credit ('PTC') in Section 45 of the U.S. tax code, investment tax credits ('ITC') in Sections 25D and 48, and accelerated tax depreciation in Section 168. Many renewable power project developers are unable to use the majority of these tax benefits directly or immediately, however, and have therefore often relied on third-party 'tax equity' investors for the necessary investment capital in order to monetize the available tax benefits. As has been well-publicized, most of these tax equity investors were hit hard by the global financial crisis that unfolded in the last months of 2008 and, as a result, most either withdrew from the renewable power market at that time or reduced their available investment capital. This left a significant financing gap beginning in late 2008, and placed at some risk the continued near-term growth of renewable energy supply in the U.S. In recognition of these developments, the U.S. Congress passed two stimulus bills - The Energy Improvement and Extension Act ('the Extension Act') in October 2008 and The American Recovery and Reinvestment Act ('the Recovery Act') in February 2009 - parts of which were intended to address the growing shortage of finance for renewable power projects. Most notably, Section 1603 of the Recovery Act enables qualifying commercial renewable energy projects to choose between the Section 45 PTC, the Section 48 ITC, or a cash grant of equal value to the Section 48 ITC (i.e., 30% of the project's eligible basis in most cases). By giving developers the option to receive a 30% cash grant (administered by the U.S. Department of the Treasury) in lieu of either the ITC or the PTC, Congress hoped to 'temporarily fill the gap ...
Date: March 31, 2010
Creator: Bolinger, Mark; Wiser, Ryan & Darghouth, Naim
Partner: UNT Libraries Government Documents Department

Coping with Underdepreciation in the Electric Utility Industry

Description: The purpose of this study is to examine a two-part hypothesis. The first part is that underdepreciation is the cause of serious financial problems which have beset investor-owned electric utilities in recent years. The second part is that depreciation adjusted for changes in the general level of prices would do much to alleviate these problems.
Date: December 1980
Creator: Haywood, Dale
Partner: UNT Libraries

Lumen Maintenance and Light Loss Factors: Consequences of Current Design Practices for LED's

Description: Synopsis: Light loss factors are used to help lighting systems meet quantitative design criteria throughout the life of the installation, but they also influence energy use. As the light sources currently being specified continue to evolve, it is necessary to reevaluate the methods used in calculating light loss factors, as well as carefully consider the consequences of different product performance attributes. Because of the unique operating characteristics of LEDs and lack of a comprehensive lifetime rating—as well as the problematic relationship between lifetime and lumen maintenance—determining an appropriate lamp lumen depreciation (LLD) factor for LED products is difficult. As a result, a unique solution has been advocated: when quantity of light is an important design consideration, the IES recommends using an LLD of not greater than 0.70. This method deviates from the typical practice for conventional sources of using the ratio of mean to initial lumen output, and can misrepresent actual performance, increase energy use, and inhibit comparisons between products. This paper discusses the complications related to LLD and LEDs, compares the performance of conventional and LED products, and examines alternatives to a maximum LLD of 0.70 for LEDs.
Date: September 17, 2013
Creator: Royer, Michael P.
Partner: UNT Libraries Government Documents Department

Production costs and supply of biomass by U.S. Region

Description: The Biofuels Feedstock Development Program has attempted to estimate the cost of producing dedicated energy crops for several regions of the United States. Switchgrass and hybrid poplar have been chosen as representative herbaceous and woody crop species for the estimation. A full economic cost accounting approach is used. This means that not only are out-of-pocket cash expenses (e.g. fertilizers, chemicals, seeds, fuel, repairs) estimated, but fixed costs (e.g., overhead, taxes) and the costs of owned resources (e.g., producer`s own labor, equipment depreciation, land values) are also estimated as part of the cost of producing dedicated energy crops. The costs are estimated as enterprise budgets which means that costs of producing energy crops are estimated as separate entities, and not estimated in context of the entire farm management structure. Competitiveness of energy crops with conventional crops vary by region. Breakeven prices are regional averages. Breakeven prices for poplar are higher than for switchgrass in all regions, in large part due to the higher cost of producing poplars.
Date: July 1, 1995
Creator: Walsh, M.
Partner: UNT Libraries Government Documents Department

Costs of Producing Biomass from Riparian Buffer Strips

Description: Nutrient runoff from poultry litter applied to agricultural fields in the Delmarva Peninsula contributes to high nutrient loadings in Chesapeake Bay. One potential means of ameliorating this problem is the use of riparian buffer strips. Riparian buffer strips intercept overland flows of water, sediments, nutrients, and pollutants; and ground water flows of nutrients and pollutants. Costs are estimated for three biomass systems grown on buffer strips: willow planted at a density of 15,300 trees/ha (6200 trees/acre); poplar planted at a density of 1345 trees/ha (545 trees/acre); and switchgrass. These costs are estimated for five different scenarios: (1) total economic costs, where everything is costed [cash costs, noncash costs (e.g., depreciation), land rent, labor]; (2) costs with Conservation Reserve Program (CRP) payments (which pays 50% of establishment costs and an annual land rent); (3) costs with enhanced CRP payments (which pays 95% of establishment costs and an annual payment of approximately 170% of land rent for trees and 150% of land rent for grasses); (4) costs when buffer strips are required, but harvest of biomass is not required [costs borne by biomass are for yield enhancing activities (e.g., fertilization), harvest, and transport]; and (5) costs when buffer strips are required. and harvest of biomass is required to remove nutrients (costs borne by biomass are for yield enhancing activities and transport). CRP regulations would have to change to allow harvest. Delivered costs of willow, poplar, and switchgrass [including transportation costs of $0.38/GJ ($0.40/million Btu) for switchgrass and $0.57/GJ ($0.60/million Btu) for willow and poplar] at 11.2 dry Mg/ha-year (5 dry tons/acre-year) for the five cost scenarios listed above are [$/GJ ($million BIN)]: (1) 3.30-5.45 (3.45-5.75); (2) 2.30-3.80 (2.45-4.00); (3) 1.70-2.45 (1.80-2.60); (4) l-85-3.80 (1.95-4.05); and (5) 0.80-1.50 (0.85-1.60). At yields of 15.7 to 17.9 GJ/ha-year (7 to 8 dry tons/acre-year), lower willow ...
Date: September 1, 2000
Creator: Turhollow, A.
Partner: UNT Libraries Government Documents Department

Energy Efficiency Improvement in the Petroleum RefiningIndustry

Description: Information has proven to be an important barrier inindustrial energy efficiency improvement. Voluntary government programsaim to assist industry to improve energy efficiency by supplyinginformation on opportunities. ENERGY STAR(R) supports the development ofstrong strategic corporate energy management programs, by providingenergy management information tools and strategies. This paper summarizesENERGY STAR research conducted to develop an Energy Guide for thePetroleum Refining industry. Petroleum refining in the United States isthe largest in the world, providing inputs to virtually every economicsector, including the transport sector and the chemical industry.Refineries spend typically 50 percent of the cash operating costs (e.g.,excluding capital costs and depreciation) on energy, making energy amajor cost factor and also an important opportunity for cost reduction.The petroleum refining industry consumes about 3.1 Quads of primaryenergy, making it the single largest industrial energy user in the UnitedStates. Typically, refineries can economically improve energy efficiencyby 20 percent. The findings suggest that given available resources andtechnology, there are substantial opportunities to reduce energyconsumption cost-effectively in the petroleum refining industry whilemaintaining the quality of the products manufactured.
Date: May 1, 2005
Creator: Worrell, Ernst & Galitsky, Christina
Partner: UNT Libraries Government Documents Department

Exploring the Economic Value of EPAct 2005's PV Tax Credits

Description: The market for grid-connected photovoltaics (PV) in the US has grown dramatically in recent years, driven in large part by PV grant or ''buy-down'' programs in California, New Jersey, and many other states. The recent announcement of a new 11-year, $3.2 billion PV program in California suggests that state policy will continue to drive even faster growth over the next decade. Federal policy has also played a role, primarily by providing commercial PV systems access to tax benefits, including accelerated depreciation (5-year MACRS schedule) and a business energy investment tax credit (ITC). With the signing of the Energy Policy Act of 2005 (EPAct) on August 8, the federal government is poised to play a much more significant future role in supporting both commercial and residential PV systems. Specifically, EPAct increased the federal ITC for commercial PV systems from 10% to 30% of system costs, and also created a new 30% ITC (capped at $2000) for residential solar systems. Both changes went into effect on January 1, 2006, and--absent an extension (for which the solar industry has already begun lobbying)--will last for a period of two years: the new residential ITC will expire, and the 30% commercial ITC will revert back to 10%, on January 1, 2008. How much economic value do these new and expanded federal tax credits really provide to PV system purchasers? And what implications might they hold for state/utility PV grant programs? Using a generic (i.e., non-state-specific) cash flow model, this report explores these questions. We begin with a discussion of the taxability of PV grants and their interaction with federal credits, as this issue significantly affects the analysis that follows. We then calculate the incremental value of EPAct's new and expanded credits for PV systems of different sizes, and owned by different types of entities. We ...
Date: March 28, 2006
Creator: Bolinger, Mark; Wiser, Ryan & Ing, Edwin
Partner: UNT Libraries Government Documents Department

PTC, ITC, or Cash Grant? An Analysis of the Choice Facing Renewable Power Projects in the United States

Description: Renewable power technologies are inherently capital-intensive, often (but not always) with relatively high construction costs and low operating costs. For this reason, renewable power technologies are typically more sensitive to the availability and cost of financing than are natural gas power plants, for example. In the United States, the bulk of renewable project finance in recent years has been provided by 'tax equity investors' (typically large investment banks and insurance companies) who partner with project developers through highly specialized financing structures (Bolinger, 2009; Cory et al., 2008; Harper et al., 2007). These structures have been designed primarily to capitalize on federal support for renewable power technologies, which has historically come in the form of tax credits and accelerated depreciation deductions. The number of tax equity investors active in the renewable power market has declined precipitously, however, as a result of the financial crisis that began unfolding across the globe in the summer of 2008. The resulting shortage and increased cost of project financing has, in turn, slowed the development of new renewable power projects, leading to layoffs throughout the entire industry supply chain. In recognition of the fact that tax-based policy incentives are not particularly effective when tax burdens are shrinking or non-existent, Congress included several provisions in 'The American Recovery and Reinvestment Act of 2009' (ARRA 2009) designed to make federal incentives for renewable power technologies more useful. Among these provisions is one that allows projects eligible to receive the production tax credit ('the PTC', see Text Box 1) to instead elect the investment tax credit ('the ITC', see Text Box 2). Another provision enables ITC-eligible projects (which now include most PTC-eligible renewable power projects) to instead receive--for a limited time only--a cash grant of equivalent value. These two provisions (among others) could have a significant impact on how ...
Date: March 11, 2009
Creator: Bolinger, Mark; Wiser, Ryan; Cory, Karlynn & James, Ted
Partner: UNT Libraries Government Documents Department

Selected Area Fishery Evaluation Project Economic Analysis Study Final Report, Final Draft Revision 4: November 10, 2006.

Description: The purpose of this Study is to provide an economic review of current and proposed changes to the Select Area Fishery Evaluation Project (SAFE or Project). The Study results are the information requested in comments made on the Project by a joint review dated March 2005 by the Northwest Power and Conservation Council (NPCC) Independent Scientific Review Panel (ISRP) and Independent Economic Analysis Board (IEAB). North et al. (2006) addressed technical questions about operations and plans, and this report contains the response information for comments concerning Project economics. This report can be considered an economic feasibility review meeting guidelines for cost-effective analysis developed by the IEAB (2003). It also contains other economic measurement descriptions to illustrate the economic effects of SAFE. The SAFE is an expansion of a hatchery project (locally called the Clatsop Economic Development Council Fisheries Project or CEDC) started in 1977 that released an early run coho (COH) stock into the Youngs River. The Youngs River entrance to the Columbia River at River Mile 12 is called Youngs Bay, which is located near Astoria, Oregon. The purpose of the hatchery project was to provide increased fishing opportunities for the in-river commercial fishing gillnet fleet. Instead of just releasing fish at the hatchery, a small scale net pen acclimation project in Youngs Bay was tried in 1987. Hirose et al. (1998) found that 1991-1992 COH broodstock over-wintered at the net pens had double the smolt-to-adult return rate (SAR) of traditional hatchery release, less than one percent stray rates, and 99 percent fishery harvests. It was surmised that smolts from other Columbia River hatcheries could be hauled to the net pens for acclimation and release to take advantage of the SAR's and fishing rates. Proposals were tendered to Bonneville Power Administration (BPA) and other agencies to fund the expansion ...
Date: November 1, 2006
Creator: Administration, Bonneville Power; Wildlife, Washington Department of Fish and & Wildlife, Oregon Department of Fish and
Partner: UNT Libraries Government Documents Department

The Potential Economic Impact of Electricity Restructuring in the State of Oklahoma: Phase I Report

Description: Because of the recent experiences of several states undergoing restructuring (e.g., higher prices, greater volatility, lower reliability), concerns have been raised in states currently considering restructuring as to whether their systems are equally vulnerable. Factors such as local generation costs, transmission constraints, market concentration, and market design can all play a role in the success or failure of the market. These factors along with the mix of generation capacity supplying the state will influence the relative prices paid by consumers. The purpose of this project is to provide a model and process to evaluate the potential price and economic impacts of restructuring the Oklahoma electric industry. This Phase I report concentrates on providing an analysis of the Oklahoma system in the near-term, using only present generation resources and customer demands. In Phase II, a longer-term analysis will be conducted, incorporating the potential of new generation resources and customer responses. Oak Ridge National Laboratory (ORNL) has developed the Oak Ridge Competitive Electricity Dispatch (ORCED) model to evaluate marginal-cost-based and regulated prices for the state. The model dispatches the state's power plants to meet the demands from all customers based on the marginal cost of production. Consequent market-clearing prices for each hour of the year are applied to customers' demands to determine the average prices paid. The revenues from the sales are paid to each plant for their generation, resulting in a net profit or loss depending on the plant's costs and prices when it operates. Separately, the model calculates the total cost of generation, including fixed costs such as depreciation, interest and required return on equity. These costs are allocated among the customer classes to establish regulated prices for each class. These prices can be compared to the average market-based prices to see if prices increase or decrease with restructuring. An ...
Date: March 27, 2001
Creator: Hadley, SW
Partner: UNT Libraries Government Documents Department

Impact of Financial Structure on the Cost of Solar Energy

Description: To stimulate investment in renewable energy generation projects, the federal government developed a series of support structures that reduce taxes for eligible investors--the investment tax credit, the production tax credit, and accelerated depreciation. The nature of these tax incentives often requires an outside investor and a complex financial arrangement to allocate risk and reward among the parties. These financial arrangements are generally categorized as 'advanced financial structures.' Among renewable energy technologies, advanced financial structures were first widely deployed by the wind industry and are now being explored by the solar industry to support significant scale-up in project development. This report describes four of the most prevalent financial structures used by the renewable sector and evaluates the impact of financial structure on energy costs for utility-scale solar projects that use photovoltaic and concentrating solar power technologies.
Date: March 1, 2012
Creator: Mendelsohn, M.; Kreycik, C.; Bird, L.; Schwabe, P. & Cory, K.
Partner: UNT Libraries Government Documents Department