in News Departments > Policy Watch
print the content item

Sen. John Thune, R-S.D., recently introduced the Wind Energy Development Act of 2007, which would extend the current Renewable Energy Production Tax Credit (PTC) that is set to expire in 2008 through 2012.

According to the senator's office, extending the PTC would give the wind industry a consistent and reliable economic incentive and encourage manufacturers to invest in and expand facilities in the U.S. It provides a $0.02 per kWh tax credit for renewable electricity production, which makes wind energy a more competitive source compared to coal, hydro and natural gas, Thune's office adds.

In addition, under this legislation, the amount of clean renewable energy bonds would increase to $2.25 billion. Rather than working as a traditional interest-bearing bond, these bonds would provide tax credits in lieu of interest to the bond holder, the governor says. A portion of the bond funding would be set aside for public power entities, Indian tribes and cooperative electric companies.

"To avoid a looming energy crisis, we need to explore every possible source of renewable, home-harnessed energy, such as wind power - an under-utilized resource that has the potential to provide cost-effective energy to millions of Americans," Thune adds.


Trachte Inc._id1770
Latest Top Stories

Utility-Scale Wind And Solar Keep Getting Cheaper

A new study measures the levelized cost of energy from various technologies and suggests that the costs of utility-scale wind and solar power are catching up with those of traditional sources, even without subsidies.


The Song Remains The Same: Ontario Seeks More Science Before Lifting Offshore Ban

The Ontario government says the nearly four-year-old offshore wind moratorium will remain in place until the province fully understands the technology’s impact on the environment.


Why States Should Adopt A Renewable Portfolio Standard

A new study analyzes the potential benefits of state renewable energy mandates, as well as recommends what such policies should include.


Sen. Reid Vows To Bring Wind PTC To A Vote By Year's End

Nevada's senior senator provides some encouragement to wind industry advocates during his annual Clean Energy Summit.


Steadily, Wind Turbine OEMs Resume R&D Investment

An increased commitment to research and development will likely lead to wind energy innovation - not to mention a likely increase in patent-protected technology.

Canwea_id1984
Renewable NRG_id1934
UnitedEquip_id1995
Future Energy_id2008