AWEA cites large-scale support for extending PTC

The American Wind Energy Association (AWEA) said hundreds of business and other organizations have signed onto a letter urging congress to extend various clean energy tax incentives, including Production Tax Credit (PTC) and Investment Tax Credit (ITC), before the end of this year.

“AWEA is proud to join this diverse coalition of companies and organizations working to grow clean energy and create jobs in the U.S.,” said AWEA CEO Tom Kiernan. “Extending these common-sense, successful federal tax policies means American workers can make more of our own energy right here in America.”

More than 450 groups have signed onto a letter urging approval of the renewable energy tax incentives.

These bipartisan tax provisions have a proven track record of helping scale up production and drive down the cost of clean energy technologies, AWEA said in a Nov. 19 news release.

The United States is number one in the world in wind energy production and now produces enough power for 15.5 million homes. Wind power’s costs have dropped by more than half in the last five years according to the Wall Street firm Lazard, AWEA said in the release.

The letter was addressed to current Senate Majority Leader Harry Reid (D-Nev.), and Senate Minority Leader Mitch McConnell (R-Ky). McConnell and the GOP will claim the majority reins when the new congress is organized in January. The letters were also sent to House Speaker John Boehner (R-Ohio) and House Minority Leader Nancy Pelosi (D-Calif.)

“As companies, organizations, and advocates who support clean and alternative energy technology and energy efficiency provisions in the Expiring Provisions Improvement Reform and Efficiency (EXPIRE) Act, we urge you to pass this legislation this year,” according to the letter.

Some of the more recognizable names on the letter include Alstom, the National Hydropower Association, the Sierra Club, Offshore Wind Development Coalition, The Pew Charitable Trusts, NextEra Energy (NYSE:NEE), ALLETE / Minnesota Power, Otter Tail Power, Iberdrola Renewables and Portland General Electric (NYSE:POR). Signing onto the letter were also scores of renewable energy-related businesses as well as local, state and federal environmental organizations.

 

About Wayne Barber 4201 Articles
Wayne Barber, Chief Analyst for the GenerationHub, has been covering power generation, energy and natural resources issues at national publications for more than 20 years. Prior to joining PennWell he was editor of Generation Markets Week at SNL Financial for nine years. He has also worked as a business journalist at both McGraw-Hill and Financial Times Energy. Wayne also worked as a newspaper reporter for several years. During his career has visited nuclear reactors and coal mines as well as coal and natural gas power plants. Wayne can be reached at wayneb@pennwell.com.