According to the American Wind Energy Association (AWEA), congress is currently in the process of leaving renewable energy out of the latest energy bill. For many reasons, this is bad for our country.
While I don't work directly for the AWEA, I do own a startup wind development company and closely follow this market. At issue are two inclusions in the legislation that are crucial for the U.S. renewables industry to continue to thrive: the PTC and a federal RPS.
The PTC stands for Production Tax Credit and is the single most important force driving wind development in the U.S. As it currently stands, the PTC is set to expire at the end of 2008.
From the AWEA:
The PTC is an income tax credit of 2.0 cents per kilowatt hour of electricity produced from qualified wind energy facilities and other sources of renewable energy.
RPS stands for Renewable Portfolio Standard. This is a law that says x% of energy produced in the US by 2025 (for example) must come from renewable sources. Many states have already enacted their own RPSs and it would be a fantastic bit of leadership if Washington could follow suit on this crutial issue.
From an AWEA legislative action alert posted today:
There are widespread reports that a decision has been made, at least provisionally, to move energy legislation to the Senate floor without either a renewable energy standard (RPS) or a tax title that extends the Production Tax Credit (PTC).
Currently, the House Energy bill contains a 15% National RPS and a 4 –year extension of the PTC. The Senate Energy bill does not contain an RPS or a PTC extension. The House and Senate are trying to blend the two different Energy bills. Senate leadership is debating whether or not to include the RPS and PTC in the final Energy bill.
Please contact your Senators to ensure the RPS and the extension of the PTC remain in the Energy bill. Energy legislation without these provisions would be a tremendous lost opportunity for our industry and our country.
If you think the development of renewable energy is at all important for the United States, I urge you to follow this link and let your representatives hear your opinion.
-- Hey look, my first diary!