in News Departments > Policy Watch
print the content item

At a campaign event in Colorado today, President Barack Obama expressed his support for the wind energy production tax credit (PTC) and bashed Mitt Romney for opposing the incentive that has become so critical to the U.S. wind industry.

Speaking at the Colorado State Fairgrounds in Pueblo, Colo. - the town home to Vestas' tower manufacturing facility - the president had some harsh words about his opponent and his anti-PTC stance.

"At a moment when homegrown energy - renewable energy - is creating new jobs in states like Colorado and Iowa, my opponent wants to end tax credits for wind energy producers," Obama told the crowd, which responded with boos for Romney’s position.

The president drew a huge round of applause when he expressed his support for wind energy and the PTC.

“The wind industry supports about 5,000 jobs across this state,” Obama said. “Without those tax credits, 37,000 American jobs, including potentially hundreds of jobs right here, would be at risk. Colorado, it’s time to stop spending billions in taxpayer subsidies on an oil industry that’s already making a lot of profit, and let’s keep investing in new energy sources that have never been more promising.”

Colorado is also home to three other Vestas manufacturing plants. In January, the Denmark-headquartered company laid off 2,335 employees (mostly in Europe) and said it would eliminate 1,600 more positions in the U.S. if the PTC were not renewed. The company said it would make its decision on the U.S. layoffs this quarter.

The state is also home to Broomfield-based wind energy developer RES Americas, which says PTC uncertainty has already caused the company to move some of its resources to Canada.

"We have been directly affected in the short term by uncertainty surrounding the PTC, and as a result, we’ve made budgetary cutbacks and redirected resources to our Canadian operations,” Susan Reilly, CEO of RES Americas, tells NAW.

In addition to continued support from the president, Colorado’s wind energy sector has strong backing from Sen. Mark Udall, D-Colo., who has been one of Congress’ most ardent supporters of wind power and the PTC. To date, Udall has made 15 speeches on the Senate floor to urge a quick extension of the tax credit, as well as co-introduced legislation to renew it. 



Trachte Inc._id1770
Latest Top Stories

Six Key Takeaways From The IRS' Start Of Construction Guidance: What You Need To Know

The IRS recently issued guidance to wind developers to further spell out what "start of construction" means. Will you be covered?


Eagle Take Permits For Wind Farms - Will They Fly?

Now that the U.S. Fish and Wildlife Service has issued the first permit allowing the legal take of eagles, can wind developers expect more certainty in the agency's application process?


Despite 2013 Challenges, U.S. Wind Power Reaches All-Time Low Price

In a new report, the U.S. Department of Energy details the highs and lows of the country's wind industry last year, and the agency maintains that the U.S. sector remains strong.


Mexico On Pace To Set New Renewables Investment Record

A new report says the country has spent $1.3 billion on clean energy in the first half of 2014 and could end up seeing a record year. Furthermore, wind power is slated for significant growth in the region.


IRS Issues More PTC Guidance, Easing Some Wind Industry Concerns

The Internal Revenue Service (IRS) addresses how much work is needed on a wind farm to satisfy production tax credit (PTC) eligibility.

Renewable NRG_id1934
Canwea_id1984
Tower Conference_id1965