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

Renewables Make Up Over 50% Of New U.S. Power In First Half Of 2014

According to a recent government report, renewable energy sources, such as wind and solar, continue to dominate new electric generating capacity.


Suzlon Facility Lends Key Assist In Developing 'The Wind Technicians Of Tomorrow'

The turbine manufacturer’s Elgin, Ill.-based training facility is the culmination of a program that puts a new twist on a proven method of instruction.


Having Their Say: CanWEA Clarifies True Source Of Canadian Wind Success

The Canadian Wind Energy Association (CanWEA) takes issue with a recent report summary regarding various renewable energy policies in North America.


FWS Issues Landmark Eagle Take Permit: What Does It Mean For Wind Projects?

The U.S. Fish and Wildlife Service's (FWS) recent decision has far-ranging implications for operating wind farms, as well as for those under development.


'Significant' Opportunity Exists Within Wind Energy's O&M Services Market

An increasing number of wind turbines are nearing the end of their warranty period, creating significant revenue-generating opportunities within the wind turbine operations and maintenance (O&M) sector.

Renewable NRG_id1934