Wind energy exec: Stable tax policy for wind industry key to economic growth …

August 25, 2012 by  
Filed under Green Energy News

No energy source has been as successful as wind over the past 30 years. It took the industry 23 years, from 1981 to 2003, to hit 5 GW. It took only five more years to hit 25 GW, and then only four more to double that to 50 GW.

The federal Production Tax Credit has largely made these achievements possible. However, we may not be able to celebrate similar accomplishments in the future if Congress doesn’t extend the PTC.

Recently, the Senate Finance Committee voted 19-5 to approve a tax bill including an extension of the PTC. The bipartisan support was a welcome sign that Congress understands what’s at stake. At a time when Americans are concerned about a weak economy and creating jobs here at home, the delay in extending the PTC is creating uncertainty for a critical domestic industry — putting tens of thousands of American jobs at risk.

Even in the midst of a hard-fought presidential campaign, the PTC is one of the few pieces of legislation that continues to attract bipartisan backing. Republicans and Democrats in Congress, as well as a broad-based coalition that includes the National Governors Association, the U.S. Chamber of Commerce, the National Association of Manufacturers, Edison Electric Institute, the American Farm Bureau Federation, environmentalists, labor unions and others, support a PTC extension.

They know that supporting the PTC means:

• Boosting a manufacturing industry that provides tens of thousands of jobs in nearly 500 factories from coast to coast, increasing the value of domestic content in wind turbines 12-fold since 2005.

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