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

Yahoo Inks Contract To Buy Kansas Wind Power

The Internet company plans to log in to the Alexander wind project, which is being built by community developer OwnEnergy.


Could Initial Offshore Wind Projects Crash New England's REC Market?

Some are concerned that the first offshore wind projects could negatively impact pricing of renewable energy credits (RECs) in New England.


Catching Up With The DOE's Down-Select Offshore Winners

The three recipients of key U.S. Department of Energy (DOE) funding provide updates on their offshore wind demonstration projects.


Texas Comptroller Attacks Wind Power, And Industry Fights Back

Texas Comptroller Susan Combs recently released a report calling for an end to wind power subsidies. The Wind Coalition has responded, saying the report is riddled with misinformation.


How To Mitigate Blade Issues And Costly Downtime

Routinely inspecting your turbine's blades can help identify problems early on, ultimately cutting down unscheduled maintenance costs.

Canwea_id1984
Renewable NRG_id1934