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.

IowaDeptEconDevel_id1863

Helukabel_id1908
Latest Top Stories

Smart Community Engagement: Twelve Tips Every Wind Developer Should Know

Community engagement helps ensure a project runs smoothly, but it can also save developers money and even lead to a more successful wind industry overall.


Bird Groups Target LEEDCo's Icebreaker Offshore Wind Pilot

Two bird conservation groups that helped halt a wind project earlier this year argue that Lake Erie Energy Development Corp.'s (LEEDCo) 18 MW offshore demo poses a major risk to regional wildlife.


Report Disputes U.S. Agency's Renewable Energy Projections

A new analysis from the Sun Day Campaign says renewables are slated to provide 16% of U.S. generating capacity by 2018 - over 20 years earlier than forecast by the Energy Information Administration.


Kansas Renewables Mandate Survives Yet Another Attack, But Is It Too Early To Celebrate?

Over the past three years, some legislators have tried to either weaken or repeal the state's renewable portfolio standard, which requires Kansas utilities to reach 20% renewables by 2020.


AWEA Highlights U.S. Wind Success Stories Of 2013

Despite a 92% drop in new capacity last year, the sector still has myriad reasons to celebrate, according to a new report from the American Wind Energy Association.

JLG_id1900
WomenofWind_id
UEA_id1896
Acciona_id1907
AWEA_id1886
bonfiglioli_id1913