in News Departments > Policy Watch
print the content item

U.S. Sens. Michael Bennet, D-Colo., and Jerry Moran, R-Kan., led a bipartisan group of senators this week to urge the Internal Revenue Service (IRS) to quickly clarify rules relating to the renewable energy production tax credit (PTC).

Wind energy developers are awaiting further guidance on what it technically means to "begin construction" on their projects. (The PTC extension included a change in language that requires projects to begin construction before Jan. 14, 2014, in order to qualify for the PTC, rather than the "placed in service" deadline included in previous versions of the PTC.)

“The new iteration of the PTC and ITC will allow the United States to continue to diversify its energy portfolio through new generation from clean energy sources,” the senators wrote in a letter to Neal S. Wolin, acting secretary of the Department of the Treasury, and Steven T. Miller, acting commissioner of the IRS. “However, a lack of clear IRS guidance regarding the construction threshold and criteria necessary to claim the incentives may soon result in uncertainty among potential investors.”

Bennet is a member of the Senate Finance Committee, which has jurisdiction over the wind energy PTC. Bennet and Moran were joined by Sens. Mark Udall, D-Colo.; Christopher Coons, D-Del.; Jeff Merkley, D-Ore.; Ron Wyden, D-Ore.; Heidi Heitkamp, D-N.D.; Sherrod Brown, D-Ohio; Maria Cantwell, D-Wash.; Tim Johnson, D-S.D.; Jeanne Shaheen, D-N.H.; Angus King, I-Maine; Amy Klobuchar, D-Minn.; Sheldon Whitehouse, D-R.I.; Al Franken, D-Minn.; Jack Reed, D-R.I.; and Barbara Boxer, D-Calif.

The full text of the letter can be viewed here.



Trachte Inc._id1770
Latest Top Stories

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.


Embryonic No More: U.S. Offshore Wind Industry Gaining Momentum

After a decade of fits and starts, the industry is moving closer to installing the first generation of wind projects off the country's shores.

Canwea_id1984
Renewable NRG_id1934
Tower Conference_id1965