News Release from American Clean Power Association (ACP)
Wind Industry Profile of
09/26/2012
This week: AWEA Blog - Extending PTC ‘should be no-brainer
Said the Times-Tribune in part, “The credit is a low-cost job generator that also diversifies the nation’s energy portfolio while improving air quality. Its renewal is stalled due to lobbying by fossil fuel industries and opposition by presidential candidate Mitt Romney.
“Given that energy security and job creation are two of the biggest issues in the campaign, renewing the production tax credit should be a no-brainer on both sides of the aisle.”
The PTC provides an income tax credit of 2.2 cents per kilowatt-hour for the first 10 years of electricity production from utility-scale wind turbines. It is set to expire on Dec. 31 unless Congress extends it first. A recent study by Navigant Consulting found that extending the Production Tax Credit will allow the industry to grow to 100,000 jobs in just four years, while an expiration would kill 37,000 jobs within a year.
A House bill seeking to extend the PTC has 110 cosponsors, including 25 Republicans, while a similar Senate bill is cosponsored by seven Senators, including three Republicans. PTC extension efforts have received the endorsement of a broad coalition of more than 370 members, including the National Association of Manufacturers, the American Farm Bureau Federation, and the Western Governors’ Association. A PTC extension also has the support of the U.S. Chamber of Commerce, the National Governors Association, and the bipartisan Governors’ Wind Energy Coalition, which includes 23 Republican and Democratic Governors from across the U.S. A PTC extension has been endorsed by a number of newspapers across the country, including the Des Moines Register, the Denver Post, the Daily Oklahoman, the Toledo Blade, the Houston Chronicle, the San Antonio Express-News, the Philadelphia Inquirer, the Chicago Sun-Times, and The New York Times.
“Given that energy security and job creation are two of the biggest issues in the campaign, renewing the production tax credit should be a no-brainer on both sides of the aisle.”
The PTC provides an income tax credit of 2.2 cents per kilowatt-hour for the first 10 years of electricity production from utility-scale wind turbines. It is set to expire on Dec. 31 unless Congress extends it first. A recent study by Navigant Consulting found that extending the Production Tax Credit will allow the industry to grow to 100,000 jobs in just four years, while an expiration would kill 37,000 jobs within a year.
A House bill seeking to extend the PTC has 110 cosponsors, including 25 Republicans, while a similar Senate bill is cosponsored by seven Senators, including three Republicans. PTC extension efforts have received the endorsement of a broad coalition of more than 370 members, including the National Association of Manufacturers, the American Farm Bureau Federation, and the Western Governors’ Association. A PTC extension also has the support of the U.S. Chamber of Commerce, the National Governors Association, and the bipartisan Governors’ Wind Energy Coalition, which includes 23 Republican and Democratic Governors from across the U.S. A PTC extension has been endorsed by a number of newspapers across the country, including the Des Moines Register, the Denver Post, the Daily Oklahoman, the Toledo Blade, the Houston Chronicle, the San Antonio Express-News, the Philadelphia Inquirer, the Chicago Sun-Times, and The New York Times.
- Source:
- American Wind Energy Association
- Author:
- Trevor Sievert, Online Editorial Journalist
- Email:
- windmail@awea.org
- Link:
- www.awea.org/...
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