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legislative affairs Legislative PrioritiesProduction Tax Credit (PTC) Extension Renewables Portfolio Standard (RPS) ________________________________________________________ Production Tax Credit (PTC) Extension In October 2008, Congress acted to provide a one-year extension of the Production Tax Credit through December 31, 2009 Description: Under present law, an income tax credit of 2.1 cents/kilowatt-hour is allowed for the production of electricity from utility-scale wind turbines. This incentive, the renewable energy Production Tax Credit (PTC), was created under the Energy Policy Act of 1992 (at the value of 1.5 cents/kilowatt-hour, which has since been adjusted annually for inflation).
Current legislation: The 111th Congress will need to address the urgency of a long-term, full-value PTC extension. The wind industry would like Congress to pass a PTC extension of at least five years in early 2009 Fact Sheet - Production Tax Credit (PTC) ________________________________________________________ Description: The renewable electricity standard (RES), also known as a renewable portfolio standard (RPS), uses market mechanisms to ensure that a growing percentage of electricity is produced from renewable sources, like wind power. The RES provides a predictable, competitive market, within which renewable generators will compete with each other to lower prices. RES policies can exist at the state and federal levels.
Spurs Economic Development:
Strengthens Energy Security:
Helps Achieve Cleaner Air:
Current Status National RES: Legislation to establish a national RES has been considered by the U.S. Congress since 1997. Since that time, the Senate has passed RES proposals on three separate occasions. In 2007, for the first time in history, the U.S. House of Representatives voted in favor of including an RES as part of its energy bill. This bill would have established a 15% RES by 2020 and allowed 4% of the standard to be met through efficiency improvements, should states so choose. The Senate energy bill did not include a RES due to the uncertainty that the 60 votes needed to overcome a likely filibuster would have been secured. Current Legislation: The 111th Congress may consider national RES legislation in early 2009. Take Action: After the November 2008 elections, you can help the wind industry by advocating for the creation of a national Renewable Electricity Standard. We will provide you an opportunity to do so through ou Legislative Action website, where you can send FREE messages to Congress. _______________________________________________________ Description: Under present law, a federal-level investment tax credit (ITC) is available to help consumers purchase small wind turbines for home, farm, or business use. Owners of small wind systems with 100 kilowatts (kW) of capacity and less can receive a credit for 30% of the total installed cost of the system, not to exceed $4,000. For turbines used for homes, the credit is additionally limited to the lesser of $4,000 or $1,000 per kW of capacity. Current Status: The ITC, written into law through the Emergency Economic Stabilization Act of 2008, is available for equipment installed from October 3, 2008 through December 31, 2016.
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