12/19/2019

State and Regional Support Essential for U.S. Offshore Wind Development

After ITC tax credit was left out of a federal tax extension bill, the support of the federal states and regions becomes even more crucial for the development of an U.S. offshore wind industry

Official Press Release Business Network for Offshore Wind:

Business Network cites state and regional support of offshore wind as essential, after ITC tax credit left out of federal tax extension bill

Statement from Liz Burdock, President & CEO, Business Network for Offshore Wind

“While we are disappointed that the Investment Tax Credit (ITC) for offshore wind energy was not included in the end-of-year federal legislation, we will continue to work with our supporters in the House and the Senate to pass a 30% ITC bill in 2020,” said Liz Burdock, President & CEO of the Business Network for Offshore Wind today after analyzing yesterday’s announcement by the House Rules Committee. “The 10 East Coast offshore wind projects are expected to continue through the development process and stay on track for their operational due dates. However, the expiration of the federal tax credit will place additional demands on states to provide funding... ... More: Official Press Release Business Network for Offshore Wind